Bitcoin analysis: Can BTC reach $80,000 this week?

The Geopolitical Context Fuels Bitcoin Surge

The crypto market is finally breathing again. This morning, Bitcoin was trading around $76,000, showing a 1.5% increase over the last 24 hours. This upward push coincides with signs of easing tensions in the Middle East, as Iran confirmed the sending of a delegation to Pakistan for crucial talks.

At the same time, the price of Brent crude has begun a correction, relieving pressure on risk assets as the ceasefire deadline approaches on Wednesday. This calmer atmosphere has allowed stock markets to reignite their rally, pulling BTC along in their wake.

Recent data confirms that Bitcoin is increasingly attracting investors and global liquidity. With trading volume exceeding $17 billion over 24 hours, buyers seem to be regaining control. This unexpected rebound has caught short sellers off guard and rekindled traders’ optimism.

Technical Analysis: Is Bitcoin’s Key Support Safe?

From a technical standpoint, reclaiming the $75,000 level is a major bullish signal. This psychological level, which acted as a stubborn resistance, has transformed into a strategic support. If BTC can consolidate above this area, the path to $80,000 appears clear.

Moreover, trader Killa has highlighted an intriguing phenomenon. Bitcoin has been rising by 5% after 10 PM on Sundays for several weeks now. Such a scenario does not repeat so precisely by chance. In this context, Bitcoin is expected to reach $77,000 in the very near future.

If Bitcoin replicates the same scenario as last week, it could reach $77,000 today before retracing to $74,700 ahead of a push to $80,000 by the end of the week. Of course, this is a likely scenario but far from certain. Nevertheless, the similarities with the past and these levels make this scenario plausible.

In a bearish scenario, a failure in geopolitical negotiations could trigger a sharp decline. A break below $74,000 would bring the price back toward the next critical support around $71,000. Therefore, extreme volatility is anticipated in the next 48 hours.

Additionally, the Bitcoin Cycle indicator signaled a potential bottom last February. This signal had not been triggered since 2022. In this context, the fakeout becomes less credible. Still, caution is warranted in the short term as liquidations continue to dictate Bitcoin’s movements.

How High Can the Price of Bitcoin (BTC) Go?

The question on every investor’s mind now is whether this movement is merely a technical rebound or the beginning of a historic surge. If the truce is officially signed on Wednesday, risk appetite could shatter current resistances.

Analysts are already eyeing the $80,000 mark, with some even predicting a return toward $90,000. Indeed, the $80,000 level represents the average purchase cost for short-term holders (STH). This is the resistance that will dictate whether the bull run resumes or not. A sustained hold of $80,000 as support would indicate a return to the long-term bullish trend.

On its part, the Realized Price quantile chart indicates a new resistance at $93,000 and a new support at $70,000. The Realized Price Quantile Regression chart for Bitcoin compares the current price to the entire history of realized prices (the average price at which BTC has been bought and moved). Currently, the Quantile Oscillator shows 31.5%, meaning that Bitcoin is higher than only 31.5% of past realized prices.

In summary, this places the market in a relatively cheap zone (green/yellow band), often considered attractive for long-term accumulation.

So, is this the ideal time to accumulate Bitcoin before a new bullish explosion, or should we expect a last-minute buyer’s trap? The answer seems imminent, and one must be ready.

Sources:

• Coinacademy
• Checkonchain
• Killa

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