Bitcoin Nears Critical Resistance of $122,000 Amid Rising Short Liquidations

According to daily analysis from Matrixport, the volume of Bitcoin short liquidations has recently surged significantly, approaching the high levels seen in early November 2024. During that period, many traders aimed to short during a rebound, but instead, the price either topped out or experienced a震荡 (volatility) above the high, followed by a correction influenced by tariff policies. Specifically, in early November 2024, weekly short liquidations reached up to $1.1 billion, and over the past week, they have hit $900 million, indicating a resurgence of short-term risk. Despite July being traditionally a strong month for Bitcoin and the upcoming crypto policy week, there remains a large volume of short positions in the market, which warrants close attention. If Bitcoin manages to break above $122,000, it could not only break the previous resistance level at $106,000 but also continue an upward trend with increments of around $16,000, potentially unlocking further upside.