#StablecoinPayments
BTC price liquidations mount after 10-week highs
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD retreating from multimonth highs toward the May open.
Hitting liquidity clustered around spot price, Bitcoin created a recipe for volatility as market participants discussed key levels.
“Dense longs cluster 95.7k-96k, heavy shorts 96.5k-97k right around current price (~96.2k),” popular trader TheKingfisher wrote in part of ongoing analysis on X.
“These are price magnets. Expect chop/volatility as they get tested.”
BTC liquidation heatmap. Source: CoinGlass
The latest data from monitoring resource CoinGlass showed price colliding with buy liquidity, with the majority of asks clustered around $97,200.
With the past week seeing multiple liquidity “grabs,” some saw the potential for that behavior to continue as the key $100,000 mark edged closer.
