🔥🔥 Bitcoin (BTC) is currently trading around 118,837, up roughly 1.74%. It’s approaching a critical price zone where a large concentration of short positions could trigger a major short squeeze.
🔍 Key Highlights:
Liquidity Clusters Above Current Price: There’s a heavy liquidity buildup between 119,000 and 120,000. If BTC moves into this range, it may spark a cascade of short liquidations, pushing the price higher.
Short Squeeze Potential: About $3 billion worth of short positions risk liquidation if BTC hits 120,000. This could force short sellers to cover quickly, driving rapid price gains.
Institutional Inflows: Strong capital inflows into Bitcoin ETFs continue, with a record $667 million pouring into U.S. spot ETFs on May 19 alone, boosting the foundation for price growth.
📊 Market Outlook:
The mix of technical signals, institutional buying, and looming short squeeze points to a potential big move soon. Still, traders should stay cautious and watch key support and resistance levels closely.