Bitcoin Faces $800 Million Long Position Liquidation if Price Falls Below $106,000
Doohyun Hwang
Summary
- It is projected that if Bitcoin falls below $106,000, the liquidation pressure of long positions will reach approximately $874 million.
- If Bitcoin rises above $110,000, the liquidation scale of short positions is expected to be about $1.183 billion.
- Bitcoin is reported to be trading at around $107,450 on the Binance Tether market, down approximately 4% from the previous day.
The downward trend of Bitcoin (BTC) is intensifying due to U.S. President Donald Trump's statement on a 50% tariff on the European Union (EU), increasing the pressure for large-scale long position liquidations on major centralized exchanges (CEX).
According to Coinglass on the 23rd (local time), if Bitcoin falls below $106,000, the cumulative long position liquidation pressure is estimated to reach approximately $874 million. Conversely, if it breaks above $110,000, the liquidation scale of short positions is expected to be about $1.183 billion.
Meanwhile, Bitcoin is trading at around $107,450 on the Binance Tether (USDT) market, down approximately 4% from the previous day.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
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