On June 5, cryptocurrency analyst Willy Woo said that if Bitcoin breaks through the 72,000 dollar, it will trigger a wave of massive position squaring, paving the way for a record high.
"Reaching $72,000 is the trigger for a series of liquidations," he wrote on the X platform. "A large number of short positions could squaring at any time, and Bitcoin could reach up to $75,000, a record high."
According to CoinGlass, if the bitcoin price breaks through $72,000, the leveraged short positions accumulated on all exchanges will squaring 800 million dollars.
Willy Woo: Bitcoin Breaks 72,000 Dollar Will 800 million Dollar Short Position Squaring
2024-06-05 09:00:58
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