Bitcoin concludes the week at $69,000, marking its highest close since June. However, mixed views emerge regarding the future market direction as the price rises.

Bitcoin's Price Recovery

Bitcoin achieved a weekly close just above $69,000, thanks to a last-minute price surge. This level is the highest since June this year. Traders are evaluating various short-term scenarios, including possible corrections and consolidations before further upward momentum. Popular trader CrypNuevo pointed out the liquidity level around $69.3k as the next target for Bitcoin. "Liquidations at this level have increased over the weekend due to shorts being opened within this range. It makes sense to spike up to the $69.3k area first," he noted.

Macroeconomic Factors and Upcoming Events

The forthcoming week will not feature significant US macroeconomic data releases. Traders will focus on unemployment figures and the Federal Reserve's Beige Book update. Despite inflation concerns, stocks have continued their rise, disregarding inflationary signals. This occurs amid expectations for a 0.25% interest rate cut at the next Fed meeting. Analysts anticipate that upcoming US elections could affect market sentiment and sustain current trends.

Leveraged Growth and Its Risks

As Bitcoin reaches $69,000, experts express caution over the increased level of leverage in the derivatives market. Analytics platform CryptoQuant warns that increasing leverage introduces volatility risks, especially with stablecoins used as collateral. Current data indicates a risk signal in the market. "Leverage in the derivatives market has always been recognized as a key factor that, while helping traders achieve profitability, also introduces significant potential risks," they note.

The Bitcoin market shows positive momentum, yet experts urge caution regarding leverage growth and macroeconomic uncertainties.