Matrixport: Short Squeeze Intensifies as Bitcoin Approaches Key Resistance at $122,000

According to a report by Jinse Finance, Matrixport's daily analysis indicates that Bitcoin short liquidations have recently surged, approaching the highs seen in early November 2024. At that time, many traders attempted to short during a rebound, but prices did not fall as expected; instead, after peaking at high levels, Bitcoin entered a period of volatility and later corrected due to tariff policy impacts. Specifically, weekly short liquidations in early November 2024 once climbed to $1.1 billion, and in the past week have reached $900 million, signaling that short risk is building up again. Although July has historically been a strong month for Bitcoin and "Crypto Policy Week" is about to begin, there remains a significant number of short positions in the market, which warrants attention. If Bitcoin breaks through $122,000, it could not only surpass the previous resistance at $106,000 but may also continue its upward momentum in $16,000 increments, unlocking further upside potential.