Failed twice to break through 86,000! Where’s the “powder keg” for a bullish sell-off?
This afternoon, Bitcoin broke through 86,000 and headed toward 87,000 again, making three consecutive attempts in a short period.
The first time it reached 87,000, the price failed to hold; the second time, it didn’t reach 87,000 either.
If it fails again this time, a short-term long liquidation will be all but inevitable.
The bulls will trample one another!
Why? The data doesn’t lie:
Over the past 24 hours, $138 million was liquidated across the market, including $113 million in short positions and $57.07 million in Bitcoin short liquidations. This rally is being driven more by a short squeeze than by spot buying. Once the short squeeze is over, who will step in?
Glassnode’s liquidation heatmap shows that the largest cluster of short liquidations above is approaching $90,000, while smaller clusters sit below, near $83,000 and $75,000. If Bitcoin drops below $83,000, it will trigger a cascade of long liquidations.
My take:
· 86,000 is the dividing line between bulls and bears. If the price keeps falling below this level and fails to break back above it, it could drop to 85,000 → 84,000.
· If it rises above 87,000–88,500 on strong volume and holds, short liquidations will accelerate, with $90,000 in sight as noted above.
Do you think you can hold on this time?
$ZEC $ETH $BTC
This afternoon, Bitcoin broke through 86,000 and headed toward 87,000 again, making three consecutive attempts in a short period.
The first time it reached 87,000, the price failed to hold; the second time, it didn’t reach 87,000 either.
If it fails again this time, a short-term long liquidation will be all but inevitable.
The bulls will trample one another!
Why? The data doesn’t lie:
Over the past 24 hours, $138 million was liquidated across the market, including $113 million in short positions and $57.07 million in Bitcoin short liquidations. This rally is being driven more by a short squeeze than by spot buying. Once the short squeeze is over, who will step in?
Glassnode’s liquidation heatmap shows that the largest cluster of short liquidations above is approaching $90,000, while smaller clusters sit below, near $83,000 and $75,000. If Bitcoin drops below $83,000, it will trigger a cascade of long liquidations.
My take:
· 86,000 is the dividing line between bulls and bears. If the price keeps falling below this level and fails to break back above it, it could drop to 85,000 → 84,000.
· If it rises above 87,000–88,500 on strong volume and holds, short liquidations will accelerate, with $90,000 in sight as noted above.
Do you think you can hold on this time?
$ZEC $ETH $BTC