Matrixport: Short liquidation intensifies, Bitcoin approaches key resistance level of $122,000

Mars Finance News, on July 15, Matrixport released a daily analysis stating that the Bitcoin short liquidation volume has significantly risen recently, approaching the peak in early November 2024. At that time, many traders attempted to short during the rebound, but the price did not fall as expected, instead topping out and oscillating, and experiencing a pullback influenced by tariff policies. Specifically, the weekly short liquidation volume in early November 2024 once rose to $1.1 billion, and has reached $900 million in the past week, indicating that short risks are re-accumulating. Although July has traditionally been a strong month for Bitcoin, and the "Crypto Policy Week" is about to begin, there are still a large number of short positions in the market, which is worth noting. If Bitcoin breaks through $122,000, it is not only expected to break the previous resistance level of $106,000 but may also continue the upward momentum of each $16,000 level, releasing more upward potential.