Bitcoin holders are increasingly optimistic about the potential for a sudden ‘short squeeze’ after price predictions showed BTC could return to an all-time high.
The price of the crypto giant, Bitcoin, is currently at $122,020, up 2.28% at the open on Monday. It is a step closer to the record peak in July.
Weekend trading saw the number of liquidations increasing, with the value of the crypto’s total ‘liquidity’ in a 24-hour period reaching $350 million.
Market analyst, Rekt Capital said the level around $117,200 now has the potential to become a new support and open up space for further upward support this week.
Meanwhile, BitBull trader explained that although the weekend price movement is often up and down, a rise of around 10% could trigger the liquidation of short positions worth over $18 billion.
Most of the attention of crypto investors is currently focused on the Ethereum token which is currently heading for new highs, amid recent legal support.
