The Bitcoin price is creeping up once more, rising to a recent all-time high above $71,000 within the early hours of Monday. As the worth surge continues, it has put a record variety of shorts in danger, where a lower than 10% move upward from here will see $1 billion in shorts liquidated.

$1 Billion In Shorts At Risk Of Liquidation

Crypto trader and analyst Ash Crypto took to X (formerly Twitter) to share a map that showed the variety of short positions in danger as the worth of Bitcoin rises. The map shared within the post showed that short liquidation leverage had risen above $1 billion.

These short leverage positions had been rising together with the worth with numerous crypto investors expecting the worth to crash after pumping to a recent all-time high. Nevertheless, Bitcoin seems to produce other plans in mind with its price surging near $72,000 and increasing the danger of liquidations for these positions.

For these positions, Bitcoin reaching $75,000 could be detrimental to them. At this price level, over $1 billion value of short positions can be liquidated. “$1,000,000,000 WORTH OF SHORTS WILL GET LIQUIDATED IF BTC HITS $75,000,” Ash Crypto revealed.

Will Bitcoin Stop Anytime Soon?

The Bitcoin price has seen a ten.33% increase within the last week and shows no signs of stopping soon. Nevertheless, the controversy of whether it continues upward or downward continues to wax strong as crypto analysts far and wide proffer their very own predictions.

One crypto analyst know as MarcPMarkets suggests that the worth of Bitcoin could hit resistance after which spiral back down if Bitcoin fails to properly clear the $70,000. However the analyst also explains that there’s a possibility that the positive price motion does proceed if price does push above $71,500 and makes a detailed above it.

On the time of writing, Bitcoin is trading above $71,700, which shows it has cleared the extent highlighted within the analyst. Now, what stays is to see if the cryptocurrency is in a position to make a day by day close above $71,500, something that may be incredibly bullish for price. On this case, the BTC price could rise as high as $80,000 following this breakout.

The Bitcoin move over $71,000 has already had a major impact on traders within the last day. Over $333 million has been lost by traders in sooner or later. But interestingly, nearly all of liquidations (64.29%) occur to be long positions, based on data from Coinglass.

BTC price reaches recent ATH | Source: BTCUSD on Tradingview.com

Featured image from, chart from Tradingview.com Atlantic Council

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