2
0
Bitcoin is flashing signs of momentum strength amid rising institutional and retail demand. With the psychological $100k mark on the cards, what can you expect?
Bitcoin’s path to $100,000 is not just a psychological relief or symbolic milestone for crypto enthusiasts, but also a minefield for BTC’s short sellers. Recent Coinglass data has revealed a key liquidation pool lying ahead as bulls rally for the $100k mark.
According to the data, if Bitcoin rallies to reclaim this six-figure mark, short positions worth $1.76 billion across exchanges like OKX and Bybit will be instantly wiped. A breakout above this level could ignite further liquidations of over-leveraged bearish positions.
The exchanges mentioned above hold significant bearish trades around this level, and a brutal short squeeze could result as bears seek cover. With high buying pressure from them, this could fuel BTC’s price even higher to a new all-time high. Traders are closely watching the $100 mark in anticipation of volatility fireworks.
