Just noticed Bitcoin hovering around $80K and testing that $78K resistance level again. What caught my eye is the liquidation heatmap showing some pretty dense clusters right around here - tons of short positions stacked up. If we break through, the liquidation heatmap suggests we could see a nasty short squeeze that pushes this even higher. The liquidation heatmap data is worth watching because it shows where the real pain points are for leveraged traders.



Meanwhile alts are having their moment. Seems like money's rotating out of Bitcoin into alt season plays while everyone's focused on whether BTC can hold or break through this resistance.

The liquidation heatmap is basically showing us the battlefield right now - lots of shorts underwater if we get a solid push up. Interesting to see how this plays out over the next few days.
BTC0.64%
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