Bitcoin’s price currently hovers around $112,000, with analysts predicting a potential surge towards $114,000 in anticipation of market fluctuations leading into the weekly close.

Key Highlights:

• Analysts predict a price rebound for BTC as traders gear up.
• The market maintains a bullish sentiment despite a significant $19 billion liquidation event.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

Data from Cointelegraph Markets Pro and TradingView indicates a stabilization after last week’s volatility due to heavy liquidations. Market participants are optimistic for the upcoming week as BTC/USD seeks to recover.

“Both always bring important flows from the aspect of a macro backdrop as we currently have. Plus, thin market atm so be careful with margin positions especially in alts.” — Trader Skew

BTC/USD one-day chart with RSI. Source: HTL-NL/X

HTL-NL believes while uncertainty prevails, the possibility of a major crash is minimized. He noted:

“I am not overly worried. Everything was poised for a correction anyways, but it all got amplified and we had a system breakdown.”

A focus on liquidity dynamics reveals that many traders are tightly short, anticipating that Bitcoin could respond favorably over the weekend.

Analyst Insights:

Caleb Franzen, from Cubic Analytics, expresses an optimistic outlook:

“If uptrends are just the production of higher highs & higher lows, then nothing about this consolidation has invalidated the uptrend.”

Ultimately, this article does not provide investment advice. All trading and investing carry risks, and thorough research should precede decisions.