Why Bitcoin could hit $60,000 before rallying to $72,000 Market analysis from AMBCrypto 390 shows that Bitcoin’s [BTC] jump to $67,740 does not mean the price will no longer plummet. In fact, BTC could drop to $60,000. To arrive at this conclusion, the liquidation heat map comes into play. Liquidation heatmaps help traders prevent further losses. High liquidation areas may be areas of support or resistance. North is not the only way Liquidity ranges from $67,626 to $68,000, according to data from Coinglass, suggesting Bitcoin may be approaching this level again. On the lower end, the main level is $60,160. Therefore, resistance between $67,000 and $68,000 may force BTC down to $60,000, which may then act as a support level. However, the area of ​​greatest concentration of liquidity is at $72,000, which means the next uptrend could push Bitcoin to this point. It is the realized price that establishes this bias. Realized price measures the average price divided by the supply of Bitcoin. This helps understand the economics of the coin. Like the liquidation heat map, this indicator can act as on-chain support or resistance. Bitcoin is not back in a bear market If the realized price touches or exceeds the value of Bitcoin, it means that the currency has entered a bear market phase. For example, the indicator flipped over BTC in November 2022, confirming the price collapse. As of this writing, the actual price is $29,142, which is double the price at press time. It can be inferred from this position that BTC has not yet reached the top of this cycle. Additionally, we also evaluated the SOPR ratio. SOPR stands for Spend Output Profit Margin. By definition, SOPR measures the profitability of the entire market. The value of this indicator is calculated as the SOPR of long-term holders divided by the SOPR of short-term holders. A high SOPR ratio means long-term holders make higher profits than short-term holders. If this is the case, it means the market is near a top. Conversely, a lower SOPR ratio indicates that short-term holders gained more than long-term holders. At press time, the ratio was 2.08. A drop to this level indicates that the price of Bitcoin may move higher. For example, the ratio reached the same reading before Bitcoin hit its all-time high in March.