Bitcoin Seeks to Conquer Volatile Range
Bitcoin's price has risen to $80,646, a 5.22% increase in the last day. This surge brings it closer to the $83,000-$86,000 range where significant short positions are concentrated. These positions were accumulated over several weeks and may be forced to close if Bitcoin reaches these levels, triggering new volatility.
According to Glassnode's futures liquidation heatmap, a substantial concentration of short positions is visible around $82,000-$85,000. The bright horizontal areas on the chart indicate regions where liquidation risk increases at these levels.
The potential for forced liquidations could accelerate Bitcoin's rally if it reaches the mentioned price range. These closures may trigger buy orders, causing the price to move faster within the range.