- BTC stays above $67K as new levels suggest the price could rise further despite drops.
- Total liquidations hit over $558M while short and long trades continue to swing heavily.
- Egrag outlines three possible levels as BTC remains within a large bullish price zone.
Bitcoin continues to trade above the pivotal 21-month Exponential Moving Average (EMA), holding at $76,359 as of April 2025. This level, defined at $67,000, has historically signaled the boundary between bullish continuation and major cycle reversal. According to analyst Egrag Crypto, losing this support would “kiss goodbye the bull run.” However, with BTC well above it, the structure remains technically intact despite short-term volatility.
Consolidation Holds as Egrag Maps Three Key Scenarios
Egrag’s chart shows recurring consolidation phases—marked as zones A, B, and C—where Bitcoin ranged near the 21 EMA before breaking higher. Each phase preceded significant price surges, reinforcing the moving average’s relevance. The analyst also described three scenarios with Bitcoin reaching new highs and altcoins surging between 10X and 100X.
The first scenario anticipates a retracement to $97,000, based on the 0.702 Fibonacci level, from the recent $109,000 peak. In this period, altcoins are expected to outperform BTC, often a sign of capital rotation during BTC consolidations.
In the second scenario, Bitcoin pushes toward $177,000, which aligns with the 1.618 Fibonacci extension. Egrag considers this “very reasonable,” indicating continued cycle momentum. Here, altcoins may achieve 10x to 20x moves from current levels.
The most aggressive path forecasts a $250,000 peak in what Egrag calls “ATH Expansion Mode.” He links this to rate cuts and renewed liquidity, where even small-cap assets could see 50x to 100x returns. He adds that gold could serve as a vital liquidity channel supporting crypto expansion.
Liquidations Spike Amid Price Reversal from $88K
Despite maintaining macro-structure, Bitcoin’s recent volatility triggered massive liquidations. Coinglass data shows combined long and short liquidations topping $558 million in a single day. Longs were wiped out in late February and early March, as BTC briefly rose past $70K before correcting. Shorts faced liquidation in early April as BTC touched $88K.
Meanwhile, BTC has hovered between $60K and $88K, with the chart showing repeated leverage flushes. The Coinglass bar graph confirms alternating long and short squeezes, reflecting market-wide uncertainty.
Related: Bitcoin Triggered Black Monday Before Wall Street Opened
Market Activity Declines as BTC Holds Near $77K
CoinMarketCap reports Bitcoin at $77,314.69, down 2.30% in 24 hours. Its market cap sits at $1.53 trillion, while daily trading volume dropped 19.04% to $57.64 billion. The volume-to-market cap ratio now stands at 3.74%, indicating lighter participation.
Bitcoin’s circulating supply is 19.84 million out of the 21 million cap. Recent price swings—from $79,131 highs to $75,000 lows—remain within the broader bullish range, supported by Egrag’s key $67K threshold.
