[Coin Clip] Bitcoin, Unprecedented Supply Shortage... '80,000 Dollars' if Short Squeeze Hits

Bitcoin (BTC) is securing strong downside rigidity, aiming squarely at the psychological resistance level of $75,000, ahead of breaking its all-time high.

Crypto media outlet NewsBTC reported on April 17 (local time) that Bitcoin's price has overcome recent volatility, established key support levels, and is consolidating upward momentum. Bitcoin confirmed a stable support base in the $73,500 range during the last trading day and is once again attempting to break its high. Market analysts evaluated that the process of the price moving sideways in a specific range and gathering energy is an essential step for the qualitative growth of future rallies.

Technical indicators strongly suggest the possibility of further upside for Bitcoin. The Moving Average Convergence Divergence (MACD) is drawing an upward curve in the positive territory, indicating that bullish momentum is being maintained, and the Relative Strength Index (RSI) also has sufficient room to rise before entering the overbought zone. Major moving averages are forming a direct array structure, acting as a strong buffer zone to defend against price corrections.

Movements in the derivatives market are also unusual. As open interest remains at an all-time high, the increasing possibility of a short squeeze is expected to act as a catalyst for price increases. While investors' bullish sentiment remains strong, a large volume of selling orders is positioned around $75,000, and whether this level is broken is expected to determine the short-term direction.

The continuous decrease in Bitcoin holdings on exchanges, exacerbating the supply shortage, is also positive. Long-term holders are moving their assets to external wallets rather than selling at current price levels, thereby reducing the available supply in the market. This supply-demand imbalance creates an environment where even a small influx of buying pressure can sharply drive up the price.

Bitcoin is currently maintaining a stable flow at the top of its upward trend line, reaching the final gateway to breaking its all-time high. If the $75,000 level is firmly taken and settled, the market's attention is expected to quickly shift to a new territory of $80,000. Amid global macroeconomic uncertainties, Bitcoin is establishing its own bullish trend, solidifying its status as the leading cryptocurrency.

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