Bitcoin Short Sellers Brace for Potential $1.67 Billion Liquidation at $70,000 Price Point

Bitcoin short sellers are likely hoping the asset won’t return to $70,000 soon, as significant liquidations could occur if it does. According to CoinGlass data, a massive $1.67 billion in short positions will be liquidated if Bitcoin reaches $70,000 — a level it hasn’t touched since June 8. “There is an insane amount of Bitcoin short liquidations piling up at the topside,” noted pseudonymous crypto trader Ash Crypto on June 17 in an X post. CoinMarketCap indicates that a 7.46% increase from its current price of $65,136 would push Bitcoin to $70,000. “Markets are incredibly bullish right now. Bitcoin and

Source: CryptoIntelligence