CoinVoice has recently learned that according to today's chart analysis released by Matrixport, the volume of Bitcoin short liquidations has significantly risen and is approaching the high levels seen in early November 2024. According to the latest data, the volume of short liquidations in the past week has reached $900 million, while it once climbed to $1.1 billion in early November 2024.
The current price of Bitcoin has surpassed $120,000 and is approaching the key resistance level of $122,000. Analyst Markus Thielen pointed out that if this level is successfully broken, it not only has the potential to break the previous resistance of $106,000 but may also continue the upward momentum of 'every $16,000 step', releasing more upward potential.
It is noteworthy that although July has historically been a strong month for Bitcoin and 'Crypto Policy Week' is about to begin, there are still a large number of short positions in the market, indicating that short risks are building up again, and the market trend is worth monitoring. [Original link]
