Cryptocurrency analytics firm MarktQuant has released an optimistic market update, stating that Bitcoin (BTC) has officially entered a full bullish phase. This conclusion is based on MarktQuant’s proprietary Bullish/Bearish model, which incorporates 11 key technical and on-chain indicators. Over the past four days, positive momentum has been steadily building and is expected to accelerate.
MarktQuant analysts are confident in Bitcoin’s medium- to long-term outlook, describing it as “strongly bullish.” Additionally, fair value models indicate a significant increase in liquidity, primarily driven by the expansion of China’s bank balance sheets ($CNBBS). This influx of liquidity is predicted to exert upward pressure on Bitcoin in the short to medium term.
The firm also highlights the potential for a significant short squeeze, with the Bitcoin price projected to target between $73,500 and $81,300. However, MarktQuant cautions that there may be increased volatility along the way. Market participants, especially those with high-beta or leveraged futures positions, are advised to exercise caution.
*This article does not provide investment advice.
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