BTC liquidation intensity imbalance: short risk is 2.5 times that of longs, with $2.6 billion hanging overhead

According to the latest data, the liquidation pressure at different price levels for BTC shows a clear imbalance. If BTC breaks through $93,803, the short liquidation strength will reach $2.616 billion; conversely, if it falls below $84,967, the long liquidation strength is only $1.035 billion. This 2.5x difference reflects the current market’s bearish dominance.

Interpretation of Liquidation Strength Data

Liquidation pressure at two key levels

According to Coinglass data, the market has formed obvious liquidation clusters in two price ranges:

The current BTC price is $89,323.83, positioned between the two key levels. This means the market faces both upward short liquidation risk and downward long liquidation risk.

Implications of Imbalanced Liquidation Strength

• Short liquidation strength is far higher than long: $2.616 billion vs. $1.035 billion, indicating short sellers face 2.5 times more liquidation pressure
• What does this reflect: There are more short positions in the market, or the leverage used by shorts is higher
• Risk direction: Resistance to upward breakout comes from short stop-loss liquidations, but once broken, it could trigger a large-scale forced liquidation of shorts
• Relative fragility of longs: Lower long liquidation strength suggests long positions are lighter or leverage is more conservative

Current Market Context

Based on recent data, BTC has been weak:

• 24-hour decline of 3.29%
• 7-day decline of 6.58%
• 30-day increase of 0.70% (month nearly flat)

In this downward environment, short positions have accumulated significantly, leading to much higher liquidation strength above than below. BTC, accounting for 59.20% of market cap, remains a focal point, with a 24-hour trading volume of $5.697 billion remaining active.

Key Focus for Follow-up

What does a break above $93,803 mean: Once this level is breached, it will trigger large-scale short liquidations, potentially causing a chain reaction that pushes prices higher. However, in the current downtrend, this upward target still requires nearly $5,000 in gains.

What does a fall below $84,967 mean: The lower long liquidation strength indicates that the risk of falling below this level is relatively controllable, but once broken, market sentiment could further deteriorate.

Summary

The current liquidation pattern for BTC shows a clear bearish dominance. The $2.616 billion in short liquidation strength above far exceeds the $1.035 billion in long liquidation below, indicating heavy short positions and suggesting that an upward breakout could trigger a sharp chain of liquidations. Given the recent downtrend, achieving this upward target in the short term is challenging. Investors should closely monitor the breakout of these two key levels, especially the market reaction once the $93,803 level is breached.