$BTC
A short position was liquidated when the price of BTC reached $96,262.60.
Short traders bet on the price dropping, but when it rises to or beyond their liquidation threshold, the position is automatically closed, causing a forced buyback of BTC and contributing to upward price momentum.
Chart Analysis
1. Price Action:
BTC is trading at $96,089.72 (+2.62%).
It reached a 24-hour high of $96,333.10, indicating strong bullish momentum that likely led to multiple short liquidations.
2. MACD Indicator:
The DIF line (633.55) is well above the DEA line (563.09), suggesting continued bullish momentum.
The MACD histogram is positive, supporting the bullish trend.
3. Volume:
A spike in trading volume is visible, aligning with the liquidation event. This indicates that the market reacted strongly, with forced buybacks fueling the upward movement.