Recent developments in the Bitcoin market have drawn attention, especially the sharp contraction in open positions, which has had a cleansing effect in the speculative crypto environment. The market is expected to enter a new phase of order and potential upward movement, particularly after the loss of over $10 billion in positions.

Impact of the $10 Billion in Positions
In January 2024, Bitcoin’s open positions reached a record $33 billion. However, market uncertainties and fluctuations led investors to reduce their positions, resulting in liquidations between February 20 and March 4, marking a 14% decline over a 90-day period.

Experts' Views
Market analysts suggest that such sharp declines could lay the foundation for a long-term recovery. Economist Timothy Peterson highlighted Bitcoin’s historical seasonal growth in April and October, predicting that Bitcoin could reach all-time highs by June, possibly even hitting $126,000.

On the other hand, Benjamin Cowen warned that falling below the $70,000 to $73,000 range could disrupt the bullish cycle, potentially signaling a bearish transition if Bitcoin drops to around $60,000.

After recent contractions, the crypto market is in a consolidation phase, with Bitcoin fluctuating between $82,000 and $83,000. Past experiences indicate that similar situations often lead to strong recoveries.