The leading cryptocurrency, Bitcoin
$
120,024, surged past $122,000 today, targeting a $125,000 milestone. Although altcoins showed moderate gains, Ethereum’s (ETH) price nearing $4,300 was encouraging. The steady rise in Ethereum 
$ 4,270 is uplifting for altcoin enthusiasts. This article delves into the latest market assessments by crypto analysts.
Bitcoin Aims for $125,000
Bitcoin reached $122,000 in the last 24 hours, but analyst Quinten Francois sees potential for further growth. Notably, upon reaching $125,000, about $14 billion in short positions could be liquidated, fueling the rally. Such extensive short liquidations have historically accelerated market upswings. The current price is just $5,000 shy of the anticipated peak.
Past bear market declines saw long positions crash, amplifying sell-offs. We expect the opposite scenario now. In summary, Quinten highlights this market dynamic.
Bitcoin and LINK Coin
Today, many analysts anticipated Bitcoin to move towards the CME gap. DaanCrypto expressed surprise at the price’s substantial deviation from the gap. It would be unusual if the gap closes in the same or closely following day, something frequently observed. Should this concern us? For now, the analyst believes the market presents no major alarm.
“Previously, most gaps closed within the same day, but this one moved further. Meanwhile, BTC is nearing its all-time high, typically aligning with gap movements. Therefore, I recommend tracking this difference. If the price closes the gap, it could create a solid reversal point. However, I would not bet on closure until the price nears at least 1%-2%,” remarked the analyst.
Regarding LINK Coin, analyst Poppe shared his outlook, frequently updating owing to LINK being his favorite altcoin. Michael believes there is still significant long-term profit potential. He advises considering buying if the price drops to the $18-$20 range before hitting $30. The challenge is that prices have already risen from this span.
