Summary
- CoinGlass stated that if Bitcoin (BTC) surpasses $110,000, about $1,510,000,000 worth of short positions would be liquidated.
- If Bitcoin falls below $106,000, long position liquidation intensity is analyzed to reach $636,000,000.
- Bitcoin is currently trading around $108,300, with about a 1.6%% gap remaining to the $110,000 liquidation zone.
As Bitcoin (BTC) searches for direction within a short-term adjustment phase, large liquidation pressure appears to have accumulated at key price levels.
On the 30th (local time), on-chain data platform CoinGlass reported that if Bitcoin rebounds and surpasses $110,000, the cumulative short position liquidation size at major centralized exchanges (CEXs) is expected to reach approximately $1,510,000,000. Conversely, if Bitcoin falls below $106,000, the cumulative long (buy) position liquidation intensity is analyzed to reach about $636,000,000.
Currently, Bitcoin is trading on the Binance Tether (USDT) market around $108,300, down about 1.6% from the previous day. There is approximately 1.6% remaining until the $110,000 liquidation zone.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
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