Bitcoin Price Approaches $100K as $3 Billion in Shorts Threatened

Bitcoin is currently priced at $97,000 after reaching a peak of $97,500. Market activity indicates potential volatility for sellers as over $3 billion in short positions could be liquidated if Bitcoin surpasses $100,000.

Short Positions Below $100K

High concentration of short positions exists between $97K and $100K across major exchanges.
A movement above $100K could trigger liquidations worth approximately $3.04 billion.
If Bitcoin hits around $105,000, potential liquidations could increase to about $3.73 billion.
At the previous all-time high of $109,000, total liquidations may reach $4 billion.

Bitcoin Chart

Long Positions Impacted by Recent Dip

Long positions have been adversely affected, with many bullish bets eliminated during a recent dip.
The aggregate leverage supporting long positions has declined significantly.
This reduction lowers the risk of abrupt crashes from long-side liquidations.
Fewer leveraged longs provide a clearer path for price increases.

Long Positions Chart

Resistance Zone Between $96K and $98K

Bitcoin is trading within a significant resistance zone where 1.06 million wallets hold approximately 750,800 BTC bought between $96K and $98K.
This represents nearly $73 billion at break-even for many holders.
A breakout above this zone could accelerate price movement towards $100K.

Market analysts are closely watching the $100,000 level, which serves as a psychological benchmark. Continued bullish momentum may lead to increased pressure on short sellers and facilitate Bitcoin's advancement toward six figures.