The
cryptocurrency had rallied toward $80,000 earlier in the week before pulling
back sharply on August 23. Over 48 hours, $750 million in leveraged longs
liquidated across the market, part of $5 billion in positions destroyed in 72
hours amid violent swings.
Analysts differ on the outlook: some anticipate a shallow retrace to build liquidity before climbing higher, while others eye $82,800 as the next hurdle, with bullish ETF inflows supporting targets like $90,000.
Liquidity clusters sit at $73,000–$75,000 and lower, suggesting range-bound action ahead.