Bitcoin (BTC) circled the $88,000 mark on Sunday amid anticipation of renewed volatility into the weekly close.
Market participants remain divided on short-term BTC price movements.
While some forecasts predict six-figure prices, others are preparing for a potential retreat toward $70,000.
Analysts cite rising Binance inflows as a factor that could weigh on BTC’s price.
Traders Anticipate Bullish Moves
Data from Cointelegraph Markets and TradingView showed BTC/USD trading within a $5,000 range for its eighth consecutive day.
The trading community increasingly expects a breakout.
“$BTC relief rally could happen soon,” crypto analyst Ted Pillows wrote on X.
He predicted a pump toward the $98,000–$100,000 range before the next potential downturn.
Pillows highlighted the importance of buyer pressure to prevent the 100-week exponential moving average from falling below its simple moving average.
“The last 2 instances caused a 40%-50% $BTC crash within 4-6 weeks,” he warned.
Trader Captain Faibik echoed bullish sentiment, predicting a near-term breakout followed by a surge in FOMO-driven entries.
“In next few days, Bitcoin will breakout & then everyone will rush in with FOMO entries which won’t be beneficial,” he said.
Another trader, Korinek_Trades, projected fresh all-time highs, but noted a possible macro-level low could come first.
“We should still see another higher high for blue W5 up to ATH complete a 5 wave structure,” they wrote, using Elliott Wave theory to forecast BTC’s next moves.
- Upside target: $150,000 in the medium term.
- Short-term observation: Price stuck below $90,000, awaiting breakout.
Risks of a Return to $70,000
CryptoQuant highlighted the possibility of BTC revisiting prior highs near $70,000.
Bitcoin remains “fragile” and could drop toward strong buyer zones.
“The next major downside target lies at the high-demand zone between $70,000 and $72,000, where stronger buyer interest is expected to emerge,” CryptoOnchain noted.
Rising BTC inflows to Binance add to downside risk.
“The combination of a technical breakdown below $90K and the injection of $1.4B worth of BTC into Binance significantly increases the probability of a corrective move toward the $70K–$72K demand zone,” the analysis concluded.
