$BTC
Current BTC Long/Short Landscape and Potential Path
The current market has a high concentration of short positions. Even if the price drops to around 104k, psychological pressure prevents most from daring to go long easily. The congestion of shorts itself poses a reversal risk. At the same time, longs, forced to enter the market out of fear of missing out, also exacerbate the risk of resistance during pullbacks.
Short-term (High probability): There is a strong incentive for a large number of short positions to be liquidated due to a "short squeeze." A rapid price surge (the target range may reach 106k-109k+) could trigger a large number of short stop-losses/liquidations, forming a "cascading effect" and significantly pushing up the price, potentially far exceeding expectations (for example, reaching near the 110k stop-loss zone).
