#BTCBackto100K BTCBackto100K Liquidation Map of Bitcoin Positions on Exchanges. Source: CoinGlass

What key levels should you watch for when Bitcoin approaches the significant test of the threshold at $100,000? Currently, the next resistance level is the threshold at $97,900, and a rise to it is almost inevitable unless a large bearish catalyst appears in the short term.

The current situation is more a reflection of trading using borrowed funds, rather than a large-scale miscalculation by bearish traders.

If an equivalent downward movement were to occur, the scale of liquidations of long Bitcoin positions would be similar. In other words, a drop of 3.07% that would bring BTC down to $93,973 would liquidate approximately the same amount of capital — $3.36 billion.