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Legendary crypto analyst il Capo: “If Bitcoin exceeds $75,000, the bull market will be confirmed”
Il Capo of Crypto, one of the most well-known analysts in the cryptocurrency space, discussed the future of Bitcoin’s price in his latest report.
The analyst notes that Bitcoin is currently stuck in the range between $65,000 and $75,000, but remains optimistic about bullish prospects.
According to the analyst, a confident return of $BTC to the $75,000 level is required to confirm the bullish scenario. On the other hand, he added that the bullish outlook will lose its validity in the short term if $BTC falls below $65,000.
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According to il Capo, the most likely scenario at the moment is a “short squeeze,” which could still occur in the $80,000–$90,000 range. The analyst also added that price targets could be even higher if such a short squeeze takes place.
At the time of writing, Bitcoin is trading at $68,956, down 2.72% over the past 24 hours. Over the past week, $BTC has remained relatively stable, declining by only 0.4%.
