Bitcoin (BTC) appears poised for a significant short squeeze as it edges toward the $110,000 mark and potentially a new all-time high.
Specifically, there is a notable buildup of short positions near $119,000 across exchanges like Bybit, OKX, and Binance. If Bitcoin continues its upward move, as much as $1.4 billion in shorts could be liquidated, triggering a potential short squeeze, according to the latest on-chain data retrieved by Finbold from Coinglass on June 29.
Bitcoin exchange liquidation map. Source: Coinglass
The liquidation map shows rising short leverage even as long exposure declines, signaling imbalance. Therefore, a breakout above $110,000 could act as a catalyst, forcing shorts to cover and pushing prices higher.
It’s worth noting that Bitcoin’s recent rally has been fueled in part by easing geopolitical tensions in the Middle East. To this end, analysts suggest that the rebound may lead to a new all-time high, potentially in the coming week if moment
We współpracy z: https://finbold.com/monster-1-4-billion-bitcoin-short-squeeze-alert/
