\n\t\t\t\t\t\t\t\t\tFurther pump or crash to $40K: what’s next for BTC?\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Bitcoin (BTC) surpassed $74,000 briefly earlier today, reaching its highest point since the start of February.<\/p>\n
Some analysts are optimistic that a more substantial move to the upside could be forming, especially if the asset breaks above key resistance levels.<\/p>\n
\u2018Stop Shorting BTC\u2019<\/h2>\n
The primary cryptocurrency started the business week on the right foot, with its valuation surging to almost $74,400 (per CoinGecko\u2019s data) following Donald Trump\u2019s latest remarks regarding the war in Iran. The US President threatened<\/a> to send troops to Kharg Island and urged America\u2019s NATO allies to form a coalition to reopen the Strait of Hormuz by deploying military ships in the area.<\/p>\n Meanwhile, spot BTC ETFs have attracted<\/a> hundreds of millions of dollars in inflows over the past several days, a factor that could also have contributed to the asset\u2019s recent price strength.<\/p>\n According to the popular analyst Ali Martinez, a more significant rally could be on the way. In a recent post on X, he claimed<\/a> that BTC might be forming a local bottom that often comes before a big move north. Martinez noted that Bitcoin\u2019s funding rates have recently flipped negative: a development that has preceded \u201cevery major relief rally\u201d in the last four years.<\/p>\n The most recent example dates back to May 2025, when BTC was trading near $95,000. Once funding rates turned negative, the market quickly shifted, and the asset climbed to a historical peak of over $126,000 within months, the analyst reminded.<\/p>\n Besides that, Martinez pointed out<\/a> that more than 33,000 BTC have been withdrawn from exchanges in the past week. CryptoQuant\u2019s data shows that just a few days ago, the amount of coins stored on such platforms dipped to a six-year low of approximately 2.73 million. This is considered a bullish factor because it reduces immediate selling pressure.<\/p>\n Other analysts on X also think BTC could chart further gains in the near future. Ted, for instance, described<\/a> the $72,000-$74,000 range as \u201cstrong resistance zone,\u201d predicting that a decisive break above it could open the door for an uptrend to as high as $78,000.<\/p>\n Analysts like Leshka.eth remain somewhat cautious about BTC\u2019s short-term prospects. The X user argued<\/a> that the price is slowly grinding higher within a descending channel toward the $76,000-$80,000 region, warning that a rejection here could trigger a painful crash to as low as $40K.<\/p>\n The analyst who goes by the moniker Klarck also envisioned<\/a> a potential pullback. They foresaw a bull trap at around $74,000, a \u201cliquidity grab\u201d at $65,000, $62,500, and $60,000, and an eventual plunge to new lows.<\/p>\n BTC\u2019s Relative Strength Index (RSI) is one technical indicator suggesting a price plunge could be imminent. The ratio has surpassed 70, meaning the price has pumped too much in a short period and could be due for a pullback. In contrast, readings under 30 suggest the asset is oversold and on the verge of a potential rally.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\nYou may also like:<\/h3>\n
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Still on Uncertain Ground<\/h2>\n
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