Killa(@KillaXBT):You have approximately 5B in visible $BTC short liquidations from 83-85K. In an uptrend, shorts getting liquidated are forced to buy back their positions. Those market buys push price higher, liquidating more shorts above and creating a chain reaction of demand. The same thing happened during the move from 67K to 80K and I expect the next leg higher to play out the same way.

Killa

@KillaXBT

Quantitative trader, 7 years. (Access Closed)

Joined September 2024

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Killa@KillaXBT

39minutes ago

You have approximately 5B in visible $BTC short liquidations from 83-85K. In an uptrend, shorts getting liquidated are forced to buy back their positions. Those market buys push price higher, liquidating more shorts above and creating a chain reaction of demand. The same thing happened during the move from 67K to 80K and I expect the next leg higher to play out the same way.