BTC faces $1.323 billion liquidation pressure; two key levels determine the future trend

According to the latest news, data from Coinglass shows that Bitcoin is facing clear dual-sided liquidation pressure. If BTC breaks above $91,854, the cumulative short liquidation strength on mainstream CEXs will reach $1.323 billion; conversely, if it falls below $83,949, the cumulative long liquidation strength will reach $880 million. Currently, BTC is fluctuating around $87,514, between these two key levels, and market participants are betting within this range.

Market Signals Behind the Liquidation Data

This data reflects a key fact: the scale of short positions in the market is significantly larger than long positions. The upward liquidation strength of ($1.323 billion) is 1.5 times the downward liquidation strength of ($880 million), indicating that more short positions are held on exchanges, betting that BTC will continue to decline.

True Attitudes of Market Participants

According to relevant information, there is indeed a large active short force in the market. A whale address known as the “Commander-in-Chief of the Short Army” currently holds $150 million worth of BTC shorts, with an average entry price of $91,000. Another “Ultimate Short” whale, although suffering a total loss of $5.48 million on the first three short positions, recently realized a profit of $65.5 million on a single short. The continuous shorting activities of these major players directly push up the short liquidation figures.

Meanwhile, BTC has fallen 8.04% over the past 7 days, down 1.97% in the last 24 hours, with market sentiment leaning weak. Safe-haven assets like gold are attracting capital inflows, and the BTC/gold ratio has dropped to its lowest point in two years, further boosting short traders’ confidence.

The True Meaning of Dual-Sided Risks

Upward risk: $1.323 billion in liquidations

If BTC breaks above $91,854, it will force many shorts to close positions, triggering a chain reaction. However, this level is about $4,340(4.96%) above the current price, requiring quite strong upward momentum. According to options data, the recent maximum pain point for Deribit options is near $92,000, which closely overlaps with the liquidation level, indicating high market attention to this price range.

Downward risk: $880 million in liquidations

Breaking below $83,949 also warrants attention. This level is about $3,565(4.07%) below the current price. Although the liquidation strength is smaller, once triggered, the stop-losses of longs will accelerate the decline. Considering the market has already been declining consecutively, the downward psychological defense line may be more fragile than the upward one.

What to Watch for Next

Recent options expirations, capital flow changes, and large short positions adjustments will influence BTC’s movement near these two key levels. The market is currently highly sensitive; any breakout in either direction could trigger chain liquidations and amplify volatility.

Summary

BTC is currently facing $1.323 billion of upward liquidation pressure and $880 million of downward liquidation pressure, with these two levels ($91,854 and $83,949) becoming the short-term market focus. The short forces currently dominate, but the larger upward liquidation strength means that once broken, a strong rebound could occur. Traders need to closely monitor these two critical price points, as any trigger could lead to significant market fluctuations. The current price position is at a risk equilibrium point, and the subsequent direction will determine the short-term market trend.