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Bitcoin enters $83,000-$86,000 zone with concentrated liquidation pressure

  • Glassnode says Bitcoin is entering a zone with concentrated liquidation pressure.
  • $83,000-$86,000 is the range where liquidation interest is clustered.
  • Short positions appear to have accumulated over several weeks, Glassnode said.

Bitcoin is approaching a $83,000-$86,000 range where Glassnode sees concentrated liquidation pressure. If the price reaches the zone, forced closures of short positions, known as short covering, could accelerate Bitcoin’s move through it. Glassnode said those short positions appear to have accumulated over several weeks.

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Bitcoin enters $83,000-$86,000 zone with concentrated liquidation pressure - CoinPost Terminal