As Bitcoin approaches the $70,000 price level, speculations arise that short-sellers are facing pressure as downtrends decrease and uptrends quicken, possibly leading to a surge in Bitcoin's price up to $80,000, as mentioned by an analyst.

According to The Kobeissi Letter, the margin between institutional long positions and hedge fund short positions is at a record high, indicating a significant factor for the potential BTC short squeeze. While hedge funds hold close to 15,000 net short contracts, institutions hold nearly 20,000 net longs.

The gap between Bitcoin's lowest point at $61,224 on March 20 and its peak at $71,511 on March 26 is only 8.7%. The current price of Bitcoin stands at $70,480. If it reaches $75,000, it could liquidate around $3.85 billion in short positions.

Analysts suggest that a short squeeze may drive Bitcoin's price to $80,000, possibly leading towards the $100,000 mark later in the year. There is a tug-of-war ongoing between long and short positions, with asset managers holding record exposure to Bitcoin.

With the anticipation of the approaching Bitcoin halving on April 21, increased trading activity is seen. However, there could be a temporary drop in Bitcoin's price post-halving, following the historical trend of speculative trading surrounding this event.

As stakeholders position themselves with both long and short positions to mitigate risks, Bitcoin's price movements remain uncertain yet potentially lucrative for speculators.