According to Odaily, cryptocurrency analyst Willy Woo has suggested that a Bitcoin breakthrough to $72,000 could trigger a large-scale liquidation, paving the way for a new historical high. He stated on an unnamed platform that reaching $72,000 would be the catalyst for a series of liquidations. A large number of short positions could potentially be liquidated at any time, with Bitcoin potentially reaching a high of $75,000, setting a new historical record.
Based on data from CoinGlass, if the price of Bitcoin breaks through $72,000, all accumulated leveraged short positions across all exchanges would liquidate $800 million. This significant market movement could potentially lead to a new era of Bitcoin valuation, marking a significant milestone in the cryptocurrency's history. However, it's important to note that these predictions are speculative and the actual market behavior may vary.