Bitcoin jumps from $78,000 to $87,000 as short liquidations thin

  • Jiang Zhuoer said Bitcoin rose rapidly from $78,000 to $87,000.
  • A $10,000 decline would trigger about $1.663 billion in cumulative long liquidations.
  • Coinglass data covers Binance BTC/USDT perpetual contracts, according to PANews.

Bitcoin rose rapidly from $78,000 to $87,000, leaving little short-position liquidation volume above the market, Jiang Zhuoer said in a post on X cited by PANews on Sept. 23. Coinglass data for Binance’s BTC/USDT perpetual contract (a futures product with no expiry) estimates cumulative short-liquidation intensity at about $440 million if Bitcoin gains another $10,000. A $10,000 decline would correspond to $1.663 billion in cumulative long-liquidation intensity. Jiang Zhuoer expects Bitcoin could first test $87,500, near the previous high, triggering short stop-losses before falling below $79,000 and liquidating long positions.

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Bitcoin jumps from $78,000 to $87,000 as short liquidations thin - CoinPost Terminal