Surprising at the previous daily close, Bitcoin managed to push the price up to almost $72,000 thanks to recurring buying liquidity. This sudden rise left investors with short positions in a difficult situation. According to the information of the data tracking platform named CoinGlass, a BTC short position of $ 85 million was liquidated in just 24 hours. This situation also positively affected the general optimism in the market.

Statistician Willy Woo states that behind this rise is an effort to overcome a resistance that long-term investors (bulls) have been suppressing for more than a month. Willy Woo said in a statement to his followers on the

Expert opinions vary on whether the rise will continue or not. Some analysts claim that Bitcoin could surpass $100,000 following an uptrend completed on weekly timeframes. Popular investor Skew, on the other hand, thinks that spot Bitcoin exchange traded funds (ETFs), which are expected to be approved by the USA soon, may be effective in this rise. Skew predicts that “the coming days will be important” until the US spot Ether ETFs decision.

Ethereum (ETH) gained value in parallel with the upward movement in Bitcoin. The ETH/USD exchange rate traded at approximately $3,700 during the day, increasing by 18% compared to the previous day and 25% compared to the previous week.

However, despite all these positive developments, a cautious approach is adopted by some experts. Although popular investor and commentator Credible Crypto follows the emerging demand closely, he maintains a cautious perspective. Credible Crypto reiterated in a discussion on the X platform that BTC price action is at “major resistance” and is likely to manage to overcome it, at least for now. Warning investors, Credible Crypto stated: “There is no change to our plan – we are currently at a major resistance with positive perp premium and funding at its highest for over a month on average – I have made it clear that these are conditions that are not conducive to the next big move up. ”

It shows that the densest area of ​​bidding liquidity below the spot price is $70,630. This data may suggest that investors are waiting to buy at these levels.

In conclusion, although the recent rise in Bitcoin is a positive sign, it is difficult to give clear information on how the market will behave in the short term. Although comments and technical analyzes made by experts provide guidance for investors, the final decision always belongs to the investors themselves. People considering investing in Bitcoin should carefully consider market conditions, expert opinions and their own risk tolerance.