Bitcoin

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BlackRock

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<p dir="ltr">As of right now, <a href="https://u.today/michael-saylors-13-million-bitcoin-forecast-gets-satoshi-response-from-nba-legend" rel="noopener noreferrer nofollow">Bitcoin</a> is trading below important resistance levels, and a lot of investors are focusing on the $60,000 mark as the next big target. But in order for Bitcoin to get there, three things must line up <a href="https://www.coinglass.com/pro/futures/LiquidationHeatMapNew" rel="noopener noreferrer nofollow">perfectly</a>.&nbsp;</p>
<h2 dir="ltr" id="short-orders-with-high-leverage">Short orders with high leverage</h2>
<p dir="ltr">The liquidation of high-leverage short orders is one of the main factors pushing up the price of Bitcoin. A short squeeze results from numerous traders being compelled to liquidate their leveraged positions as <a href="https://u.today/dogecoin-doge-creator-outbids-13-million-bitcoin-prediction-by-michael-saylor" rel="noopener noreferrer nofollow">BTC</a> gets closer to higher price levels. Since they are compelled to do so, the price of Bitcoin is forced higher. Significant leverage is seen between $58,000 and $60,000 in the Binance heatmap data, suggesting that liquidations at these prices could push Bitcoin to all-time highs.&nbsp;</p> <img alt="Bitcoin Liquidation" data-entity-type="file" data-entity-uuid="01312868-e74d-462a-a4a8-ffef95e7cc85" src="https://u.today/sites/default/files/inline-images/image_1187.png">Source: <a href="https://www.coinglass.com/pro/futures/LiquidationHeatMapNew" rel="noopener noreferrer nofollow">Coinglass</a>
<h2 dir="ltr" id="investment-inflows-from-institutions">Investment inflows from institutions</h2>
<p dir="ltr">The price of Bitcoin is still heavily influenced by retail traders, but institutional inflows are necessary for long-term growth. BlackRock is currently among the few institutional investors actively boosting cryptocurrency inflows, albeit the majority of its attention has been focused on Ethereum.&nbsp;</p>
<p dir="ltr">More institutions must enter the market if <a href="https://u.today/bitcoin-to-150000-legendary-trader-peter-brandt-stuns-bitcoin-bulls" rel="noopener noreferrer nofollow">Bitcoin</a> is to reach $60,000. The weekly asset flow chart for cryptocurrency demonstrates the recent decline in institutional participation, with negative flows affecting the mood of the market as a whole. Large financial institutions showing renewed interest would provide Bitcoin the confidence and liquidity it needs to overcome its resistance levels.</p>
<h2 dir="ltr" id="change-in-sentiment">Change in sentiment</h2>
<p dir="ltr">The mood of the market right now is on the verge of extreme fear. Massive selling pressure has halted every recent attempt at a bull run, keeping Bitcoin from rising further. This sentiment needs to get better if we are going to see a sustained push toward $60,000.</p>
<p dir="ltr">More buyers are probably going to enter the market as fear fades and confidence in it grows, which will accelerate the upward trend. Positive developments on the market, along with a shift in sentiment, could be the impetus needed for Bitcoin to finally break through the $60,000 mark.</p>

3 Things Bitcoin (BTC) Needs to Hit $60,000

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