Bitcoin's (BTC) price is currently navigating a volatile range, and key levels are poised to trigger significant liquidations. According to data from CoinGlass, a break above the $120,000 mark could initiate a cascade of short position liquidations totaling approximately $1.55 billion across major centralized exchanges. This occurs as traders betting against Bitcoin are forced to cover their positions, driving the price even higher in a short squeeze. Conversely, a dip below $116,000 could trigger the liquidation of roughly $1.31 billion in long positions, as those betting on price increases are forced to sell. These liquidation levels act as key psychological barriers for Bitcoin's price. Monitor these price points closely to understand potential market movements and volatility. Large liquidations often amplify price swings. ```

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