Market Assessment After the BTC Liquidation Surge
The liquidation in the Bitcoin market was swift, with all short positions at the 99.4k price level cleared within just two hours.
Typically, such a rapid liquidation pace raises doubts about the sustainability of the market's upward movement.
Currently, there is a significant amount of selling pressure and trapped capital above the 99.5k level. To achieve a breakout, strong news support is needed; otherwise, it will be difficult to maintain upward momentum.
It is recommended to closely monitor short signals, as this moment may present an opportunity to capture a pullback.
