Another monster Bitcoin short squeeze alert with $16 billion at risk
The recent surge in upside liquidity appears to suggest that Bitcoin (BTC) might be up for another monster short squeeze. At the time of writing, the cryptocurrency is trading at over $113,934, with nearly $16 billion in leveraged short positions across Binance, Bybit, and OKX exposed, according to the latest data from CoinGlass retrieved on September 11. That is, the liquidation heatmap reveals a dense short liquidation zone above more or less $115,000, as well as long liquidations building around $112,000. The chart below highlights the areas with the highest concentration of leveraged positions, the rising green curve on the right indicating the short liquidation leverage and showing where traders are most likely to be wiped out. BTC exchange liquidation map. Source: CoinGlass As the data over the last 30 days visible on the chart suggests, if Bitcoin’s price continues to climb above the current level, shorts could be forced to unwind rapidly in the $11...