In the face of heightened volatility, even minor shifts in Bitcoin’s price can trigger substantial liquidations.
Additionally, crypto expert Axel Adler Jr. indicates that the surge in new futures positions is expected to further amplify market volatility.
Can Retail Demand Ignite the Next Bitcoin Price Surge?
Currently, Bitcoin’s price has hovered around the $97,000 mark over the last week. Following a 10% drop from its all-time peak, the cryptocurrency faces resistance near $100,694.
Nonetheless, some analysts remain hopeful, predicting that the price will eventually break through and continue on an upward trajectory.
One such analyst is the pseudonymous trader, caueconomy. He believes that Bitcoin’s price could bounce back as he anticipates a rise in retail investor interest, signaling the end of the current consolidation phase.
“Following an extended phase of normalization marked by sideways price movement, retail demand is nearing a resurgence, which could positively affect Bitcoin,” the analyst commented .
Similar to caueconomy, analyst Michaël van de Poppe also posits that BTC may soon surge to a new high. He suggests that the recent price drop may present a favorable entry point, potentially leading to the establishment of a new all-time high, as illustrated in the image above.
