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According to a recent report published by the cryptocurrency exchange Bitfinex, Bitcoin’s price could experience a rapid rise if it surpasses a critical level. The analysis suggests that if Bitcoin breaks above $72,000, it may not encounter significant resistance until it reaches $82,000.
The report explains this situation with a market structure described as an “air gap.” This concept refers to a price range where liquidity in the order book is relatively low and resistance levels remain weak. According to Bitfinex, this gap between $72,000 and $82,000 could pave the way for an acceleration of the upward movement.
On the other hand, Bitcoin fell from $76,000 to $68,000 last week. This decline was attributed to macroeconomic data from the US and geopolitical tensions in the Middle East. However, despite all these fluctuations, it was noted that Bitcoin managed to remain above its March opening level.
The analysis also highlighted Bitcoin’s more stable performance compared to the S&P 500 index. Bitcoin’s resilience despite fluctuations in traditional markets is considered a significant indicator for investors.
Bitfinex experts stated that the price direction in the coming period will largely depend on macroeconomic developments and geopolitical risks. They also indicated that if the upward momentum is maintained, Bitcoin could enter a new uptrend.
*This is not investment advice.
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