TechFlow, June 8 — According to Cointelegraph, Bitcoin is struggling to retest its support level. Market volatility is expected as liquidity analysis indicates conditions favorable for a significant short squeeze, with $100,000 remaining a possible target if prices drop again.
Analyst Cas Abbe posted on X, stating that if Bitcoin's price rises 10% from current levels, $15.11 billion in short positions will be liquidated. Conversely, a 10% price decline would trigger the liquidation of $9.58 billion in long positions. Current negative funding rates suggest a "large number of short positions" over the weekend, with major volatility anticipated next week, potentially pushing Bitcoin’s price above $109,000 to $110,000.
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