The movement in Bitcoin trading is getting interesting. BTC has been hovering around 81k, and the talk is that if it moves above 78.5k, the next target will be 85.2k. That said, the CME gap is drawing attention: if it rises to 84.1k, there’s a possibility that $3.4 billion worth of shorts will be liquidated, while if it falls to 67.1k, there’s also the risk that $17 billion in longs could be wiped out.

The bullish camp points out that trading turnover in the bottom range is sufficient, and that ETF inflows are continuing. Breaking through the Bollinger Bands is also said to be a key factor. Meanwhile, the bearish camp warns that the recent rebound is just a trap, and if US stocks fall, Bitcoin trading could get dragged down as well. There’s also a view that it can be confirmed that the prior rise below 80k was merely a liquidity bias.

In the options market, 20,000 BTC will reach expiration, and the funding rate has returned to neutral, increasing the risk of a short squeeze. Honestly, it’s hard to predict which way the price will move from here.