Bitcoin Price May Surge as Short Liquidity Above $110K Signals Upside

Bitcoin prices have cleared significant downside pressure, with a large short liquidity cluster above $110,000 potentially signaling a bullish reversal. While the market consolidates below resistance levels, data suggests a potential short squeeze is brewing. 75% of long positions absorbed liquidation in the last week, suggesting exhausted bearish momentum and rising selling pressure. This has led to a large accumulation of short liquidity above $110K, setting the stage for a potential short squeeze as prices climb above this level.