With Bitcoin (BTC) seemingly regaining its bullish momentum, analysts indicate that if this trend continues over the coming weeks, the cryptocurrency could soon record another all-time high.
This sentiment is echoed by a crypto analyst using the pseudonym Yoddha, who suggested in a post on X on August 9 that Bitcoin is poised to reach a record high of $81,000.
According to Yoddha, Bitcoin’s price action has been nothing short of a rollercoaster over the past year. After reaching $65,000, the cryptocurrency experienced a sharp decline, dropping to a low of $49,000.
Yoddha described this drop as a “liquidation hunt,” where large sell-offs trigger stop losses, leading to a cascade of selling and a temporary price dip.
Despite this setback, Bitcoin has since rebounded, returning to trade within its monthly range of above $60,000, which the analyst interprets as a sign of underlying bullish momentum.
Bitcoin price analysis chart. Source: TradingView
Bitcoin’s next rec
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