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Recently looked at the liquidation data, and it feels like the short positions are already in a very dangerous situation. If Bitcoin rises to 84,000, it can only trigger a liquidation of $2.2 billion in short positions; but if it drops down to the 66,000 level, the bulls could face a liquidation risk of over $6.9 billion. This stark difference is definitely worth noting.
Currently, Bitcoin is around 76,000, and it is in a relatively sensitive position. It seems that the risk on the bullish side has accumulated quite a bit, especially if the support below 66,000 is broken, which could trigger a chain reaction. Therefore, chasing the price at this level should be done cautiously, as it’s easy to fall into a trap of a trend reversal.
In the short term, it’s safer to stay on the sidelines in this high-level zone.