$BTC Short Liquidation: $61.336K at $98453.1
Bitcoin has just made an explosive move with a $61.336K short liquidation at the key price of $98453.1, sending shockwaves through the market.
This monumental liquidation has turned the tables in favor of the bulls, triggering a rush of buying activity that is making traders’ heads spin.
Let’s break down this thrilling event and explore what it means for Bitcoin’s future price action!
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1. The Scale of the Liquidation
A $61.336K short liquidation is nothing short of massive.
This indicates that a huge number of short positions were caught off guard, forcing traders to scramble to buy back Bitcoin to cover their positions.
As more shorts were liquidated, the price surged even higher, creating an intense upward momentum.
This is a powerful reminder of how quickly market sentiment can shift when such significant liquidations occur.
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2. The Critical Price Level: $98453.1
$98453.1 has proven to be a pivotal level for Bitcoin, where the price broke through in spectacular fashion.
$BTC Once this key level was breached, it signaled a clear shift in momentum, and traders who were shorting the market were forced to exit, causing additional buying pressure.
This level now acts as a potential support zone if the price retraces, and it’s likely to be closely watched by both bulls and bears alike in the coming sessions.
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**3. The Short Squeeze
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