Bitcoin kicked off the month sliding lower, but here's something interesting from today's liquidation heatmap—there's a thick wall of short positions piled up above current levels.

Now, this doesn't tell us where price is headed next. What it does show? Exactly where traders are betting with borrowed money. And when price pushes into those zones, things can get messy fast. Cascading liquidations. Forced covering. The kind of volatility that catches people off guard.

Worth keeping an eye on as we move through the week.