According to the latest analysis from the on-chain data tracking platform, two critical price levels for Bitcoin are determining the market liquidation trend.

On the upside, if BTC can hold steady above the $97,499 mark, mainstream exchange short positions will face a liquidation wave of $1.654 billion. What does this number mean? It indicates that a large number of short traders will be forced to close their positions, further driving up the price of the coin.

Conversely, the downside story is even more concerning—if BTC falls below the $88,571 support line, the bulls' days will be tough. At this point, the total liquidation strength will surge to $1.396 billion, and long positions will face concentrated liquidations.

Between these two extreme price levels, the market is essentially betting: shorts are betting on a decline, longs are betting on a rise. Whoever breaks first will trigger their stop-loss orders sequentially. For short-term traders, these two figures are the most critical reference points at the moment.