Bitcoin Trades Near $80,000 as Liquidation Clusters Mark Levels on Both Sides

Bitcoin (BTC) was at $79,981 at 4:00 a.m. ET (08:00 UTC) Monday, as liquidation maps showed leveraged positions clustered above and below the market. A three-day BTCUSDT liquidation map showed one concentration between $81,500 and $82,000 and another from $78,500 to $79,000. A separate one-week map showed potential short liquidations above $81,000. Forced closures of short positions can involve buying, which may add buying pressure as prices rise through those positions. The clusters do not establish which level Bitcoin will reach first or guarantee a reversal. The lower concentration puts the area below $79,000 in view if the price falls.

Source: TokenPost