Matrixport: BTC approaches the key resistance level of $122,000, with the market accumulating a large number of short positions.

According to ChainCatcher news and the icon analysis released by Matrixport today, the Bitcoin short positions liquidation amount has significantly increased recently, approaching the high levels seen in early November 2024. The latest data shows that the short positions liquidation amount has reached 900 million USD in the past week, while it once surged to 1.1 billion USD in early November 2024. Currently, the price of Bitcoin has surpassed 120,000 USD, approaching the key resistance level of 122,000 USD. Analyst Markus Thielen pointed out that if this level is successfully broken, it not only has the potential to break the previous pressure level of 106,000 USD but may also continue the upward momentum in increments of 16,000 USD, releasing more upward potential. It is worth noting that although July has traditionally been a strong month for Bitcoin, and the crypto policy week is about to begin, there are still a large number of short positions in the market, indicating that short risk is re-accumulating, and the future market trend is worth paying attention to.