short sellers are witnessing the pressure as the market edges closer to a massive liquidation event. According to a renowned analyst, a 10.6% price increase would be needed to liquidate $20 billion worth of shorts at $72,600.
With such high stakes, the $72,600 level has been a significant battleground for such huge stakes of both bulls and bears. Generally, such a sharp surge in the metric may indicate that investors are already bracing themselves for a huge moveThis net flow surge indicates the optimism among market participants in a breakout above resistance, until it tests for the $72,600 mark.In fact, they are willing to pay funding fees to short traders. This trend suggests that the Bitcoin bulls are in control, hence further supporting the notion of an imminent upward price movement.