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Analysis: Bitcoin still has the potential to rise to $88k, and the overall performance of the crypto market remains resilient.
ME News report: April 13 (UTC+8). Bitcoin is currently trading in a tight range near $70k. The broader crypto market overall remains resilient. At the same time, major crypto assets such as Ethereum, XRP, and Solana are also relatively stable. In the short term, the key for the market is whether Bitcoin can hold this important support level at $70k. This level has now become the line between bulls and bears, and has been defended multiple times by “bottom-fishing funds.” If it is effectively broken to the downside, Bitcoin’s price volatility could increase, as liquidity below is thinner. But if it can stabilize, the market may be able to quickly return to stability. Some views suggest that, supported by capital flows and macro factors, Bitcoin still has the potential to move upward toward $88k. Overall, although Bitcoin’s price performance is steady, speculative activity combined with negative events may suppress market risk appetite in the short term. (Source: ODAYL)