Bitcoin Price Breakthrough Spells Disaster for Shorts

According to data from Coinglass, if Bitcoin (BTC) were to break through $66,155, the cumulative liquidation strength of shorts on major CEXs would reach a staggering $1.928 billion.

This would indicate that if the price surpasses this threshold, short sellers would be at risk of significant losses due to margin calls and subsequent price movements.

On the other hand, if Bitcoin were to drop below $59,951, the cumulative liquidation strength of longs on major CEXs would reach $951 million.