Following September’s largest crypto liquidation event worth $1.5 billion, analyst CrypNuevo forecasts Bitcoin could hit $116,500 in a short squeeze this week.
Bitcoin BTC $113 560 24h volatility: 1.4% Market cap: $2.26 T Vol. 24h: $45.90 B and most cryptocurrencies went through the largest long-squeeze event of 2025 on September 22, with over $1.5 billion liquidated in a cascade within a few hours amid a market crash. The prominent trader and analyst CrypNuevo, however, saw it as an opportunity, setting BTC’s next stop in what could be a “mid-week reversal” to the upside.
CrypNuevo is a high-accuracy trader and analyst with a solid track record, mostly basing his analysis on liquidity hunts and market makers’ psychology. According to a new series of posts on September 24, Bitcoin is getting ready for a short squeeze at around the $116,500 level—which could happen this week. “It’s time to hit short liquidations soon, and this will be the first target,” he said, sharing significant liquidity clustering around that price.
$BTC liquidation heatmap:
Interesting to see how $116.5k is gathering some short liquidations after the long liquidation cascade earlier in the week.
I guess it's time to hit short liquidations soon, and this will be the first target. pic.twitter.com/OpKb0jigSc
— CrypNuevo 🔨 (@CrypNuevo) September 24, 2025
A few hours before sharing the liquidation heatmap, the trader had already outlined his short- and mid-term plans for Bitcoin, matching the short-squeeze warning above, in what he called an upcoming “mid-week reversal,” recovering from the crash. Next, CrypNuevo sees the $120,000 level as the mid-term price target for BTC, testing “range highs” of a trading range drawn since July this year.
$BTC update:
As you know from previous posts, this is what I see in the mid-term and short-term:
• Mid term: Should range lows hold, then we'll naturally see a push to range highs ($120k).
• Short term: Liquidity grab done to stop out revenge traders. Mid-week reversal next? pic.twitter.com/Y83B7ZBaLC
— CrypNuevo 🔨 (@CrypNuevo) September 24, 2025
These analyses are a follow-up to CrypNuevo’s Sunday update and a previous analysis following Monday’s liquidations, aligned with the analyst’s thesis and similar to many accurate forecasts in the past. His thesis is centered around the idea that crypto market makers hunt leveraged traders at key levels where there is an accumulation of liquidation orders, making these areas price magnets that will eventually be hit if the liquidity remains available through the market’s open interest.
Bitcoin Eyes $116,500 Short Squeeze Target
Bitcoin is currently trading at $113,700, bouncing back from the price support at $112,000 in the multi-month range. The leading cryptocurrency currently struggles to break out from the 50-day exponential moving average (1D50EMA) at $113,890, which is usually an important trend indicator for cryptocurrencies.
Breaking out from this moving average could be the trigger needed to push Bitcoin up to the $116,500 short-squeeze target mentioned by the analyst. Yet, the following path up to $120,000 is still uncertain, without a clear timeline, although CrypNuevo believes range edges (highs and lows) are often revisited unless something changes fundamentally.
The two-month range has seen two notable deviations: one to the upside in mid-August and the other to the downside from August 25 to September 10.
Bitcoin daily (1D) price chart on September 24, 2025 | Source: TradingView
As these developments unfold, altcoin analysts are also optimistic about other cryptocurrencies like Ethereum ETH $4 169 24h volatility: 0.0% Market cap: $503.22 B Vol. 24h: $28.59 B and Solana SOL $212.3 24h volatility: 1.3% Market cap: $115.35 B Vol. 24h: $8.50 B . BitMine chairman Tom Lee projects an Ethereum price of $12,000-$15,000 by the end of 2025, citing Wall Street and White House adoption, and different sources expect Solana to reach $300 in talks related to treasury adoption for SOL among institutions, as Coinspeaker reported earlier today.
On that note, UK-listed B HODL has acquired 100 BTC, placing it alongside Smarter Web and Satsuma in the region for companies with a Bitcoin investment plan.
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