Latest data shows that if Bitcoin breaks through the 96,900 USD mark, there will be nearly 10.2 billion USD in short positions facing liquidation in the market. This figure is quite astonishing.

What will happen once these short positions collectively face liquidation? A chain reaction is almost inevitable – passive liquidation will further drive up prices, resulting in a stampede-like increase. But the question is, what stage is the current market sentiment in? Is it the end of a bear market or the starting point of a new bull market?

The long and short game around this price level is indeed exciting. Shorts are betting on a reversal, while longs are betting on a breakout. The figure of $96,900 is now not just a technical level, but more like a trigger point.

What do you think? Can BTC break through this key price level? Will this wave of short positions liquidation become a catalyst for the market? Feel free to share your judgment.

BTC1.16%

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