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Bitcoin Eyes $95K Breakout as Short Squeeze Looms
Bitcoin (BTC) could spark a significant short squeeze if it breaks above the $95,000 mark, with cumulative short liquidations across major centralized exchanges (CEXs) estimated at around $163 million. On the downside, a drop below $93,000 would put long positions in danger, potentially triggering $68.45 million in long liquidations—highlighting the highly leveraged state of the current market.
$95K: Key Resistance Level with Heavy Short Exposure
Currently trading between $94,000 and $94,500, Bitcoin is approaching the critical $95K threshold, which serves as both a technical resistance and psychological barrier. A large concentration of short positions lies at this level, making it a major liquidation cluster. While Coinglass’s liquidation heatmap doesn't show exact figures, it does indicate areas of intense liquidation potential—suggesting sharp price reactions at key levels.
According to Coinglass, "A higher liquidation bar means the price will react more strongly to the liquidity wave after it reaches that position." This implies that a move above $95K could trigger widespread short covering, potentially accelerating BTC’s upward momentum toward $98K or even $100K.
$93K: Key Support with Long Exposure at Risk
Conversely, $93K has emerged as a vital support level. A breakdown below this threshold could result in over $68 million in long liquidations, possibly leading to a deeper correction. This underscores the market’s susceptibility to volatility driven by leveraged positions and tightly packed stop-loss zones.
Market on Edge Ahead of Major Move
With Bitcoin nearing the six-figure mark and technical momentum mounting, traders are closely watching the $93K and $95K levels. The former represents near-term support, while the latter could be the launchpad for a major breakout.
