Cryptocurrency
Bitcoin ‘short squeeze’ or $87K dip next? BTC price predictions vary
Key points:
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Bitcoin is setting up a showdown with leveraged shorts immediately above its yearly open price.
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That key level near $93,500 is the main target for traders hoping that BTC/USD will cement its latest breakout.
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The next support retest could involve $87,000, analysis suggests.
Bitcoin (BTC) consolidated below a key resistance target on April 24 as a BTC price forecast brought sub-$90,000 levels into play.
Analyst: BTC price correction “fairly normal”
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD retesting $92,000 as support overnight.
The pair broadly maintained six-week highs while global markets remained at a loss over the trajectory of the ongoing US trade war.
“The market is now up over +1% on the day on no news at all,” trading resource The Kobeissi Letter summarized alongside a chart of the S&P 500 in part of its latest analysis on X.
“As we have seen multiple times this year, it almost feels like someone is front-running something right now. We expect to see some sort of bullish announcement soon.”
Bitcoin continued to brush off news events, leaving volatility to equities, while gold attempted to stabilize after slipping from record highs earlier in the week.
“Fairly normal to have a slight correction here on Bitcoin as it’s just had a massive breakout,” crypto trader, analyst and entrepreneur Michaël van de Poppe told X followers on the day.
“Buyers likely going to step in and then we’ll be continuing our path towards a new ATH.”
Others increasingly entertained the idea of a deeper correction following brisk gains for BTC/USD, potentially taking the market back below the $90,000 mark.
“A dip to 88k would be lovely,” popular trader Inmortal argued.
A dip to 88k would be lovely.
If the market gives it, I will probably play one of these two setups, or both.$BTC pic.twitter.com/ysqiheds7X
— Inmortal (@inmortalcrypto) April 24, 2025
Trader and analyst Rekt Capital had a similar conception of the potential support retest move.
BTC price action, he observed, was closely copying behavior from the middle of its previous bull market in 2021.
“Part of Bitcoin continuing to repeat mid-2021 price tendencies relative to the Bull Market EMAs would be a dip into the $87000 (green EMA) level for a post-breakout retest, if at all needed,” he commented on a weekly chart showing two exponential moving averages (EMAs).
“Depends on how BTC Weekly Closes relative to $93500.”
Bitcoin bulls seek leveraged shorts wipeout
The main target for bulls thus remained the yearly open level just above $93,000, one which remained intact as resistance at the time of writing.
Related: Bitcoin exchange outflows mimic 2023 as whales buy retail ‘panic’
This coincided with a block of potential liquidation levels on exchange order books, providing fertile conditions for a “short squeeze” should price attack them.
$BTC Liquidation heatmap shows that liquidity of leveraged positions is building up on both sides.
Leveraged longs mainly around $91,400.
Leveraged shorts around $93,500-$94,500. pic.twitter.com/d2jCyO2FdC— chad. (@chad_ventures) April 24, 2025
The latest data from monitoring resource CoinGlass showed the largest concentration of liquidation leverage centered around $93,600.
Earlier, Cointelegraph reported on a large trading entity dubbed “Spoofy the Whale” removing a wall of asks at $90,000.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Crypto analyst Egrag Crypto has made a bold prediction that the XRP price can hit a $1.5 trillion market cap. He revealed how the altcoin can achieve this milestone by alluding to technical indicators, which show the measured move from this current market cap to a $1.5 trillion market cap. In an X post, Egrag Crypto stated that the Logarithmic move could send the XRP price to around $1.5 trillion market cap, exceeding the Fib 1.618 by approximately $500 billion. Meanwhile, the Non-Logarithmic move will put the altcoin at around $270 billion, aligning with the Fib 1.618. The crypto analyst remarked that he sees two potential growth levels by measuring the previous cycle, the move from Fib 1.0 to Fib 1.618. Based on this, he predicts a 242% increase and a 600% increase. He then highlighted the four possible targets from the lowest to the highest. The first is the projected XRP price rally to a $270 billion market cap in line with the non-logarithmic measured move. The second target is a 242% XRP price rally to a $450 billion market cap, backing the previous cycle’s move from Fib 1.0 to Fib 1.618. The third target is another 242% rally to a $978 billion market cap. Meanwhile, the rally to a $1.5 trillion market cap is the last target, with the Non-Log W pattern measured move for maximum potential. Egrag Crypto highlighted what the XRP price could be based on its current circulating supply of 58.68 billion if it reaches these market cap targets. The altcoin’s price will be $4.60, $7.66, and $16.65 if it reaches the $270 billion, $450 billion, and $978 billion market caps, respectively. Meanwhile, XRP will hit $25.56 if it reaches the $1.5 trillion market cap milestone. In another X post, Egrag Crypto predicted that the XRP price can reach between $13 and $22 based on his analysis of the altcoin’s yearly chart. He stated that candle 13 will be the breakout candle, which will lead to the rally to $13 or $22, with the wick potentially extending even higher. He noted that by analyzing Candle 9, the 2021 yearly candle, and its full body move of an 800% gain, applying this increase to Candle 13 points to an XRP price target of around $17. He added that this aligns perfectly between Line 1 at $13 and Line 2 at $22. It is worth mentioning that Egrag Crypto has also predicted that the altcoin could rally to $27 in 60 days, aligning with the $1.5 trillion market cap projection. At the time of writing, the XRP price is trading at around $2.28, down in the last 24 hours, according to data from CoinMarketCap. Featured image from Getty Images, chart from Tradingview.com Wall Street investment bank Cantor Fitzgerald Asset Management said it plans to launch a new fund that blends bitcoin gains with a fallback anchored to gold. The Cantor Fitzgerald Gold Protected Bitcoin Fund, which the firm said will be its first BTC-focused investment vehicle, is structured to provide investors uncapped exposure to bitcoin’s price rise while offering one-to-one downside protection based on the price of gold, according to the firm’s Thursday press release. The fund is expected to open for investors in the next few weeks, and will run for five years, the firm said. “There are still people on the Earth that are still scared of bitcoin, and we want to bring them into this ecosystem,” Brandon Lutnick, chairman of Cantor Fitzgerald, said on stage at the Bitcoin 2025 conference in Las Vegas. “I think it’s going to be one of the great products of the Earth.” The move shows the investment giant is venturing deeper into bitcoin-related products as digital assets are becoming increasingly part of traditional markets. Earlier this week, Cantor said it opened its bitcoin lending business with first financing provided to crypto lender Maple and digital asset prime brokerage FalconX. Read more: Wall Street Giant Cantor Debuts Bitcoin Lending Business With First Tranches to FalconX, Maple Bitcoin Magazine Ark Labs has officially launched Arkade, a Bitcoin-native execution layer designed to unlock programmable financial applications using Bitcoin as it exists today. The announcement comes after a $2.5 million pre-seed funding round in August 2024, led by Tim Draper with support from Fulgur Ventures and Axiom. Arkade aims to create a new way to build directly on Bitcoin, letting developers build fast and scalable apps—without needing sidechains, wrapped tokens, or any changes to the core Bitcoin protocol. “Bitcoin is the world’s hardest, most secure asset, but it remains largely static,” said Marco Argentieri, CEO of Ark Labs. “Arkade virtualizes Bitcoin’s transaction layer, transforming it into a dynamic financial platform where operations happen instantly, programmability is unlocked, and users maintain full control of their assets throughout.” Arkade is currently being tested on the Bitcoin network with early partners like Tether, Boltz, Breez, and Mempool.space already on board. Arkade maintains Bitcoin’s core security model and avoids alternatives like wrapped tokens or new consensus mechanisms. Tim Draper, founder and managing partner of Draper Associates, noted: “Bitcoin is fast emerging as the world’s premier digital asset. Arkade’s virtualization approach finally brings the programmability Bitcoin needs to transform from a store of value into a permissionless financial system.” Ark Labs says demand has been strong since January, with multiple projects requesting integration. The company plans to expand Arkade’s toolkit in the coming months, with support for BTC-collateralized lending, staking primitives, and multi-asset transactions. The launch is scheduled for Q3 2025. “Bitcoin has always had to balance the desire to scale transaction throughput and complexity with conservatism regarding upgrades,” said Allen Farrington, General Partner at Axiom. “With this exceptionally high bar for worthwhile innovation, and amidst a sea of noise, Ark Labs is bringing to market what may prove to be the most important technical breakthrough in the space since the Lightning Network.” You can watch the full keynote below. This post Ark Labs Launches Arkade, a New Native Operating System Using Bitcoin first appeared on Bitcoin Magazine and is written by Jenna Montgomery. 9 Exercises To Grow Arms at Home | Increase Arm Strength Without Equipment Good Morning America Full Broadcast — Monday, May 19, 2025 Kim Zolciak & Kroy Biermann, Timeline of Their Relationship Drama The Worst Mistake for a Flat Stomach 15-minute arm workout with dumbbells for biceps and triceps The Weeknd And Jenna Ortega Star In A Dull Film BECOME TALLER & GET SLIMMER /11 MIN FULL BODY EXERCISES ROUTINES TO GROW TALLER AT HOME_ Shrilyn Kody Brown Kinda Regrets Telling Ex-Wives He Never Loved Them
Reason to trust
How The XRP Price Can Reach $1.5 Trillion Market Cap
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