As Bitcoin hovers near the $70,000 mark, there's speculation that short-sellers are feeling pressure due to decreasing downtrends and faster uptrends, potentially pushing the price to $80,000, according to an analyst.

The Kobeissi Letter noted a significant margin between institutional long positions and hedge fund short positions, with institutions holding more net longs.

Bitcoin's price dips are becoming briefer, with recent fluctuations showing a narrow gap. A rise to $71,000 could trigger the liquidation of $156.18 million in short positions, while $75,000 could liquidate $3.85 billion.

Analysts suggest this situation could propel Bitcoin to unprecedented highs, possibly reaching $100,000. However, there's also anticipation regarding the upcoming Bitcoin halving on April 21, which historically prompts speculative trading and may result in temporary price drops despite initial positive responses.