Bitcoin (BTC) is now free to surge not only to existing all-time highs but across, analysts have said.

Analyzing orderbook data on October. 15, monitoring resource Whalemap revealed that Bitcoin had already beaten all major resistance levels.

Bitcoin is already moving in sparse air

With $60,000 striking for the commencement fourth dimension since Apr, the odds are on for new all-fourth dimension highs — and the timeframe for these keeps getting smaller.

At present, a await at exchange atmospheric condition shows just how easily BTC/USD should jump into uncharted territory beyond $64,500.

"Price discovery shall commence very soon," Whalemap commented on a chart showing BTC supply levels by cost.

"Almost no supply at prices above 59k."
Bitcoin supply vs. BTC/USD chart. Source: Whalemap/Twitter

Short squeeze or resistance slap at $64,000?

The just hurdle left is a sell-wall at the current highs, something which has been countered past bullish data about the origins of the current balderdash run phase.

Related: Think $60K is the top? This Bitcoin fractal suggests it's the next bear market bottom

According to Ki Immature Ju, CEO of on-chain analytics house CryptoQuant, Bitcoin'south recent cost surge is not the result of speculators or shorts being "squeezed" out — merely large-volume buyers on derivatives platforms.

This firmly differentiates Q4 from earlier phases, notably that which produced the all-fourth dimension highs from the commencement of 2022 onward.

As such, a classic "brusque squeeze" scenario, where bears are wiped out in a cascading ascending cost construction, has yet to even happen.

"Massive BTC buying marketplace orders in derivative exchanges are non from short liquidations," Ki wrote in a blog post on Friday.

"This indicates: i/ There are no large short positions liquidated so far 2/ Whales punted long positions since the dip."
Bitcoin derivative exchange short liquidations ratio chart. Source: CryptoQuant