Traders forecast $85,000 for BTC after $80,000 support survives geopolitical-driven volatility and $400 million in liquidations.
Bitcoin (BTC) eyes a $85,000 price target after holding $80,000 support despite end-of-week volatility. The cryptocurrency briefly surpassed $82,000 before retracing, driven by geopolitical tensions and liquidity grabs across exchanges.
Over $400 million in crypto positions were liquidated in 24 hours as BTC/USD fluctuated. Analysts note consolidation remains a possibility, though buyer commitment suggests a potential longer-term uptrend. Two key Bitcoin metrics are nearing a rare ‘golden cross,’ last seen nearly three years ago.
Market turbulence stemmed from escalating US-Iran tensions, impacting both crypto and broader risk assets. Traders remain divided between upside continuation and short-term consolidation as BTC navigates CME futures gaps.