According to ChainCatcher, based on Matrixport's icon analysis today, the short liquidation volume for Bitcoin has significantly increased recently, approaching the high levels of early November 2024. The latest data shows that the short liquidation volume in the past week has reached $900 million, compared to the peak of $1.1 billion in early November 2024.
Currently, Bitcoin's price has broken through $120,000 and is approaching the key resistance level of $122,000. Analyst Markus Thielen points out that if successfully breaking this level, it not only hopes to break the previous resistance of $106,000 but may also continue the "every $16,000 step" upward momentum, releasing more upward potential.
It is worth noting that although July has historically been a strong month for Bitcoin, and the "Crypto Policy Week" is about to begin, there are still a large number of short positions in the market, indicating that short risks are re-accumulating, and the future trend is worth watching.
