Bitcoin (#BTC ) is currently approaching an important resistance zone of around $83,000–$86,000. This is arguably the key battlefield for both bulls and bears.
According to Glassnode data, this area is packed with a large number of short positions that may be liquidated. If BTC successfully breaks above, some of the short-selling funds may be forced to buy back BTC to cut losses, which would further amplify the upward volatility.
Meanwhile, about 1.07 million BTC are concentrated in this price range, and many of them belong to long-term holders. Glassnode also found that since August 19, the short liquidation zone of $82,000–$86,000 has expanded by 21%. #比特币突破8万美元大关
According to Glassnode data, this area is packed with a large number of short positions that may be liquidated. If BTC successfully breaks above, some of the short-selling funds may be forced to buy back BTC to cut losses, which would further amplify the upward volatility.
Meanwhile, about 1.07 million BTC are concentrated in this price range, and many of them belong to long-term holders. Glassnode also found that since August 19, the short liquidation zone of $82,000–$86,000 has expanded by 21%. #比特币突破8万美元大关