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🚨 What happens if Bitcoin exceeds $70,500?💥
We're seeing#Bitcoinapproach a pivotal point: if it breaks $70,500, a massive $21.77 billion in shorts could be liquidated. This happens when traders who bet on the short (known as "shorts") lose their positions because the price of the asset rises.
📈 Why does this matter?
When shorts are liquidated, traders are forced to buy back their positions, creating even more buying pressure. This phenomenon is known as a “short squeeze,” and it can cause the price of Bitcoin to rise rapidly.
📈 Why does this matter?
When shorts are liquidated, traders are forced to buy back their positions, creating even more buying pressure. This phenomenon is known as a “short squeeze,” and it can cause the price of Bitcoin to rise rapidly.
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BTC
1,04,190.72
-1.67%
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