"If Bitcoin breaks through $120,000 again, up to $1.04 billion in short positions may be liquidated"
Minseung Kang
Summary
- There is a projection that if Bitcoin (BTC) surpasses $120,000 again, the cumulative liquidation pressure on short positions could reach $1.04 billion.
- According to Coinglass data, if Bitcoin exceeds $120,000, it has been revealed that large-scale short position liquidations may be triggered on major exchanges.
- Conversely, it was reported that if Bitcoin falls below $117,000, the liquidation pressure on long positions could reach about $784 million.
If Bitcoin (BTC) breaks through $120,000, there is an outlook that the cumulative liquidation pressure on short positions on major centralized exchanges (CEX) could reach $1.04 billion.
On the 29th, cryptocurrency industry media outlet BlockBeats, citing Coinglass data, reported that "if Bitcoin's price exceeds $120,000, large-scale short position liquidations on major exchanges could be triggered, totaling as much as $1.04 billion." Conversely, if Bitcoin falls below $117,000, it is estimated that the liquidation pressure on long positions would be about $784 million.
Currently, Bitcoin is fluctuating around $119,000.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
