Bitcoin reached a peak of $77,230 before consolidating, leading to warnings of a potential long squeeze. The analyst who predicted this price target says that Bitcoin's long open interest is approaching a risky level historically associated with long squeezes. The analyst expects Bitcoin to attract more longs, reach the historical long-squeeze threshold, and liquidate over-exposed traders. The trader plans to wait for the market to play out and open new long positions at lower prices. The analyst also expresses interest in altcoins and expects Bitcoin Dominance to trigger an altseason. Furthermore, institutional interest in Bitcoin continues to grow, with BlackRock's iShares Bitcoin ETF IBIT registering significant volume.



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