Analysis: Bitcoin short liquidations climb, approaching $122,000 resistance

PANews reported on July 15 that according to Matrixport analysis, the volume of short liquidations of Bitcoin has increased significantly recently, approaching the highs of early November 2024. At that time, many traders tried to short in the rebound, but the price did not fall as expected. Instead, it fluctuated at a high level and then fell back due to the impact of tariff policies. At present, the weekly short liquidation volume has reached US$900 million, indicating that the market short risk is accumulating.

Analysis points out that July is usually a strong month for Bitcoin, and the Crypto Policy Week is about to begin, but there are still a large number of short positions in the market. If Bitcoin breaks through $122,000, it is not only expected to break the previous pressure level of $106,000, but also may continue the upward rhythm of each $16,000 step, releasing more upward potential.