Bitcoin Liquidation Pressure Builds Below $107,000

A looming sell-off in the Bitcoin market poses a significant risk of liquidation for traders holding long positions. With prices flirting with the crucial support level of $107,000, the potential for large-scale liquidations is escalating, exceeding $1 billion across major exchanges like Binance, OKX, Bybit, and Coinbase. This scenario underscores the high volatility experienced in the cryptocurrency market. Major exchanges are bracing for this risk, as historical data from Glassnode and Coinglass indicates a similar pattern with market conditions.