Analysis: BTC is Testing New Support Level, Over $9.5 Billion Long Positions Could be Liquidated if it Drops by 10%

Bitcoin is striving to retest the support level, as liquidity analysis indicates favorable conditions for a significant short squeeze, market prices are expected to fluctuate. If prices drop again, $100,000 remains a possible target. Analyst Cas Abbe posted on the X platform that if Bitcoin's price rises by 10% from now, $15.11 billion in short positions will be liquidated. Meanwhile, if Bitcoin's price falls by 10%, $9.58 billion in long positions will be liquidated. The current negative funding rate suggests a "large number of short positions" over the weekend, with significant volatility expected next week, potentially pushing Bitcoin's price above $109,000 to $110,000. (Cointelegraph)