Bitcoin recovers to $110,000 in one day… 3% surge expands short liquidation pressure

Doohyun Hwang

Summary

Bitcoin (BTC) reportedly recovered to $110,000 in one day.
It said the size of short position liquidations at major centralized exchanges (CEXs) is expected to reach about $1.51 billion.
It reported that some analyses suggest additional upward momentum could emerge in the short term due to short position liquidations.

Bitcoin (BTC) rebounded sharply in one day, breaching the $110,000 level again. The price, which had been pushed down to $106,000 by Federal Reserve Chair Jerome Powell's hawkish remarks the previous day, quickly returned to an upward trend.

On the 30th (local time), based on Binance Tether (USDT) markets, Bitcoin surged about 3% over the past eight hours, exceeding $110,000 intraday. It is currently trading around $109,900.

According to on-chain data platform CoinGlass, if Bitcoin surpasses $110,000, the cumulative short position liquidation size at major centralized exchanges (CEXs) is expected to reach about $1.51 billion. Some analysts also suggest that, in the short term, additional upward momentum could follow short position liquidations.

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