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- 🎤 Cheer for Your Idol · Gate Takes You Straight to Token of Love! 🎶
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🎵 The song you want to he - ✈️ Gate Square | Gate Travel Sharing Event is Ongoing!
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Bitcoin short positions liquidation volume rises, breaking $122,000 may release more upward space.
[BitPush] Matrixport released a daily analysis stating that the liquidation amount of Bitcoin short positions has recently surged, approaching the highs of early November 2024. At that time, many traders attempted to short during the rebound market, but the price did not drop as expected; instead, it fluctuated after peaking at high levels and experienced a pullback due to tariff policies.
Specifically, the weekly short positions liquidation amount at the beginning of November 2024 once soared to 1.1 billion USD, and it has reached 900 million USD in the past week, indicating that short position risks are re-accumulating. Although July has always been a strong month for Bitcoin, and the crypto policy week is about to start, there are still a large number of short positions in the market that are worth noting.
If Bitcoin breaks through 122,000 USD, it is not only expected to break the previous resistance level of 106,000 USD, but it may also continue the upward trend at every 16,000 USD level, releasing more upward potential.