After a slow movement last week, Bitcoin (BTC) was able to bounce back after reaching $52,000 today, February 23. However as Bitcoin approaches above the $52,000 level, crypto analysts is seeing a possible massive liquidation.

Prominent crypto analyst CrpytoRover, shared a snip of the Bitcoin Liquidation Heatmap warning the traders on a possible short liquidations of more than $1 billion if Bitcoin (BTC) reaches the $52,200 level. He explained that liquidations could trigger an increased buying pressure as short traders will try to cover their positions by buying back BTCs.

Moreover, the unprecedented demand could push the Bitcoin price further. In fact, BTC price could peak between $54,000 to $58,000. This figures aligns with crypto analyst Michaël van de Poppe’s prediction, but it could also lead to a massive correction.

Poppe also foresee a major pullback in the BTC price after the Bitcoin Halving event. He explained that the correction could push the BTC price down to $40,000. 

Meanwhile, another crypto analyst also see a possible massive liquidation of over $76 million if the BTC price hits $52,250. In this case, investors should consider these warnings.

Bitcoin (BTC) reaching the $52,000 threshold shows a 23% increase in its price for the first time since December 2021. Matrixport’s research also reveals that a substantial part of this increase particularly the 12% of it has occurred during US market hours, indicating more trading activity in the US region. 

In the last month, Bitcoin has increased by over 24%, with Bitcoin ETFs inflows reaching a high of 25,300 BTC and counting. And since Bitcoin has been on an upward trend since early February, the bulls were able to sustain the momentum before entountering rejection at $53,000 last week.