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Matrixport: Short Liquidation Intensifies, Bitcoin Approaching Key Resistance at $122,000
Summary: According to reports, Matrixport's daily analysis shows a significant increase in Bitcoin short liquidation, approaching the high point from early November 2024. Traders who attempted to short during the rebound found prices did not drop as expected, instead oscillating at the peak and experiencing a pullback due to tariff policies. Specifically, weekly short liquidation in ...
According to reports, Matrixport's daily analysis shows a significant increase in Bitcoin short liquidation, approaching the high point from early November 2024. Traders who attempted to short during the rebound found prices did not drop as expected, instead oscillating at the peak and experiencing a pullback due to tariff policies. Specifically, weekly short liquidation in early November 2024 once reached $1.1 billion, and in the past week has already hit $900 million, indicating a reaccumulation of short risks. Despite July traditionally being a strong month for Bitcoin and the upcoming crypto policy week, there are still many short positions in the market worth monitoring. If Bitcoin breaks through $122,000, it not only has the potential to break the previous resistance at $106,000, but also may continue the upward trend in $16,000 increments, unleashing more upside potential.
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Link: Matrixport: Short Liquidation Intensifies, Bitcoin Approaching Key Resistance at $122,000 [Copy]
