Bitcoin faces a larger downside liquidation risk than upside short pressure, with CoinGlass data showing that a fall below $63,351 would wipe out about $442 million in long positions across major centralized exchanges. A move above $64,605 would liquidate about $267.34 million in short positions, potentially fueling a short squeeze. The exchange-based leverage map, which draws on aggregate open interest and trader positioning on venues including Binance, OKX and Bybit, suggests leveraged bullish bets are more exposed if prices weaken. Bitcoin has traded in a relatively tight range in recent days as markets weigh interest rate expectations and regulatory developments, and the concentration of positions near these levels points to heightened sensitivity to sharp moves. CoinGlass data is a snapshot rather than a forecast, and the figures can shift as traders open or close positions.