Bitcoin bears at risk of $600M liquidation, raising chance for rally to $70K

💡 DMK Insight

Bitcoin’s hashrate recovery is a silver lining amidst bearish sentiment, and here’s why that matters: While weak US economic data typically weighs on risk assets, Bitcoin’s strengthening network security could attract buyers looking for a safe haven. A surge to $70,000 isn’t just a dream; it hinges on this technical rebound. Traders should keep an eye on the hashrate trends and on-chain metrics, as these indicators often precede price movements. If Bitcoin can hold above key support levels, particularly around $60,000, it could trigger a wave of buying interest. But don’t ignore the flip side—if bearish pressure continues, especially with macroeconomic headwinds, we could see a pullback. Watch for volatility in the coming weeks as traders react to both technical signals and economic news. The real story is how Bitcoin’s fundamentals are evolving despite external pressures, and that could reshape market sentiment significantly.