Bitcoin's price is at a critical juncture, with both bulls and bears facing huge liquidation pressure. As Bitcoin approaches key resistance levels of $93,000 and a support level at $90,000, traders are bracing for intense volatility.
Key Levels in Focus:
$90K: A drop below this price could trigger $540 million worth of long liquidations.
$93K: A push above this level could set off a massive $1.6 billion short liquidation.
The market is in a precarious state, with clusters of leverage near these price points, which could lead to rapid price movements in either direction. As of now, Bitcoin is trading around $91,834, up by 0.22% in the last 24 hours with a trading volume of $74 billion.
These liquidation zones make Bitcoin especially vulnerable to significant price swings, offering high-risk opportunities for both bullish and bearish traders.
Why It Matters:
The rising cumulative leverage in the market underscores the vulnerability of both sides. Traders should brace for possible volatility, as these liquidation points could rapidly accelerate price changes, creating sharp upswings or downswings.
Stay tuned, as Bitcoin's next move could trigger major liquidations and shake up the markets.
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