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Coinglass’ liquidation chart shows that approximately $1.2 billion in Bitcoin short positions will face liquidation if the price rises to $95,076.
This figure reflects open bets on the largest digital currency by market capitalization.
Short positions are used when a trader borrows Bitcoin to sell Bitcoin in the hope of buying Bitcoin later at a lower price, thereby earning the difference.
When the price goes in the opposite direction of their bets, these positions may be automatically liquidated due to a lack of collateral to maintain leverage, resulting in forced buying that may push the price higher.
Bitcoin is currently trading at around $91,895, having fallen from levels above $94,000 ahead of the Federal Open Market Committee (FOMC) decision, according to “CoinGecko” data.
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