Bitcoin's price has been hovering around the $77,000 mark, sparking expectations of a significant move soon. According to some analysts, the current price range is too tight to maintain, and a breakout is imminent.
Data from TradingView shows that Bitcoin's price action has been stuck in a narrow range for several days, with leveraged positions on both sides of the spot market. This has led some traders to speculate that a 5% or more move could occur soon.
Crypto liquidation history also reveals that short positions have taken the majority of losses across the crypto market over the past 24 hours. This trend suggests that bears are facing increasing pressure, with some analysts warning against shorting the market at this level.