Key points:
Bitcoin market analysis indicates a potential rise to $114,000 by the weekly close.
Traders are optimistic about a BTC price recovery next week.
The uptrend in Bitcoin’s bull market may persist despite the $19 billion liquidation event.
Bitcoin (BTC) hovered around $112,000 as Sunday’s weekly candle approached, with traders expressing hopes for a price recovery.
Bitcoin liquidation “fishing” expected by weekly close
Data from Cointelegraph Markets Pro and TradingView indicated that volatility eased following a dramatic $19 billion liquidation in the crypto market.
BTC/USD did not show significant recovery; however, traders anticipated better performance in the upcoming week.
“I’m anticipating a relief bounce as we head into the weekly and futures open,” trader Skew mentioned in his latest commentary on X.
“Both weekly and futures opens typically attract significant market activity given our current macro environment. The market is thin right now, so be cautious with margin in altcoins.”
Another trader, HTL-NL, pointed out that while the market is uncertain, the likelihood of a major downturn seems minimal.
“The weekly close and what the coming week brings is unpredictable, especially since traditional markets have had little reaction to Trump,” he informed his followers on X.
“Nonetheless, I’m not too concerned. The market was due for a correction anyways, but the situation escalated to a breakdown.”
Trading expert TheKingfisher predicted a possible liquidity grab around the $114,000 mark, with many traders holding short positions on BTC.
“Weekends are typically for $BTC range liquidations fishing,” it noted on the day along with proprietary market data.
Analyst on BTC bull market: “Bearish scenarios can occur”
Caleb Franzen, founder of financial research outlet Cubic Analytics, maintained a bullish stance.
Related: Bitcoin’s ‘macro whiplash,’ Shuffle faces data breach: Hodler’s Digest, Oct. 5 – 11
In his latest Substack post, he discussed Bitcoin’s interaction with its simple (SMA) and exponential (EMA) 200-day moving averages.
“Prices might fall further from current levels,” he suggested.
“Similar to the consolidations seen in August-September 2023, July – September 2024, and February – April 2025, it would be entirely normal for a slight dip below the 200-day moving average before a recovery and continuation to new peaks.”
Despite this, BTC/USD might still post a higher low on daily charts, which Franzen indicated would keep the uptrend intact.
“If uptrends are characterized by higher highs and higher lows, then nothing about this consolidation has compromised the uptrend,” he explained.
“While we must acknowledge that bearish developments can occur during uptrends, as this past week demonstrated, it’s equally essential to recognize that the bearish outlook during an uptrend can lead to significant financial losses and underperformance.”
This article does not provide investment advice or recommendations. Every investment and trading decision involves risk, and readers are encouraged to conduct their own research.
