Here’s Why Bitcoin Price Must Not Fall To $54K: Analyst

Bitcoin analyst Ali Martinez warns that BTC could drop to $54,000, which would liquidate over $70 million in long positions and trigger a potential 'Long Squeeze.' The cryptocurrency recently retreated from $74,000 highs driven by geopolitical tensions, falling back below $70,000 and currently trading around $67,830.

• →Bitcoin rallied to $74,000 due to US-Israel and Iran geopolitical tensions but has since retreated below $70,000.
• →A drop to $54,000 could liquidate over $70 million worth of Bitcoin long positions according to liquidation heatmap data.
• →The $54,000 level represents a critical support zone that could trigger a 'Long Squeeze' if breached.
• →Bitcoin is currently trading at $67,830, down over 4% in 24 hours and nearly 10% from recent highs.
• →The bearish market structure remains intact despite the recent relief rally.