Cryptocurrency analytics firm MarktQuant has issued a bullish forecast for Bitcoin (BTC), predicting a significant price surge driven by increased liquidity and a potential short squeeze. In a statement released today, the firm cited its proprietary long-term bull/bear model, which integrates eleven key technical and on-chain indicators. This model has now transitioned into a “full bullish phase,” according to MarktQuant.
The firm points to positive momentum building over the past four days, characterized by steady acceleration. This positive trend, coupled with a medium-to-long-term bullish outlook, forms the basis of MarktQuant’s prediction.
A key driver of this bullish sentiment is an observed uptick in market liquidity, primarily attributed to the expansion of China’s bank balance sheets. This influx of liquidity, MarktQuant argues, is expected to exert upward pressure on Bitcoin’s price in the short to medium term.
MarktQuant projects a potential price range of $73,500 to $81,300, driven by an anticipated short squeeze. However, the firm cautions that this upward trajectory is likely to be accompanied by heightened volatility. MarktQuant urges market participants, especially those holding high-beta or leveraged future positions, to exercise caution, anticipating sharp price swings in both directions.
