Matrixport’s latest daily report on July 15 highlights a notable surge in Bitcoin short liquidation volume, nearing levels last seen in early November 2024. During that period, traders heavily shorted Bitcoin amid a rebound, anticipating a price decline that ultimately did not materialize. Instead, Bitcoin reached a peak before entering a phase of oscillation and a subsequent pullback influenced by evolving tariff policies. The weekly short liquidation volume peaked at $1.1 billion in November 2024 and has recently climbed to $900 million, signaling a renewed accumulation of short exposure risks within the market.
Despite July’s historical strength for Bitcoin and the imminent Crypto Policy Week, the market still harbors a significant number of short positions, underscoring potential volatility. Should Bitcoin surpass the critical resistance level of $122,000, it may not only break through the previous high of $106,000 but also sustain upward momentum in increments of approximately $16,000, unlocking further bullish potential for investors and traders alike.