Bitcoin Near $84K as More Short Positions Cluster Above
Bitcoin ended last week near $84,000 after roughly $140 million in short liquidations, with bearish leverage concentrated between $86,000 and $88,000.
Bitcoin finished last week around $84,000, according to Bitcoin.com News, as a move higher forced the closure of an estimated $140 million in short positions.
The liquidations accompanied a confirmed weekly close above $83,000. Short positions bet on falling prices and can be forcibly closed when a rise leaves traders without enough collateral.
The report identified another concentration of bearish leverage in the $86,000–$88,000 range. Those positions could face liquidation if bitcoin advances toward those levels, though the figures do not establish that such a move will occur.
Source: Bitcoin.com News
