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The Bitcoin market is experiencing significant fluctuations again, with prices breaking through the $116,000 barrier. This rising trend has attracted widespread attention in the market, while also bringing potential risks.
According to market analysis, if Bitcoin can maintain above $116,000, the short liquidation scale of major centralized exchanges (CEX) could reach as high as $736 million. This figure highlights the current high leverage nature of the market and the potential for severe fluctuations.
However, the market also faces downside risks. Analysts point out that if Bitcoin prices fall below the $113,000 mark, it could trigger a large-scale liquidation of long positions, with an estimated liquidation size of about $570 million. This two-way liquidation pressure indicates that market participants need to remain highly vigilant.
Technical analysis shows that the main resistance level on the daily chart is around $117,000, while in the short term, the range between $115,000 and $116,000 may become a key resistance area. Some traders suggest considering establishing short positions when approaching $115,000, but also remind investors to operate cautiously according to their personal risk tolerance.
It is worth noting that the rapid rise of Bitcoin does not necessarily mean that the subsequent upward trend will continue. Market participants generally believe that maintaining such high levels requires continuous capital inflow and support from market confidence.
The current market environment is full of opportunities but also hides risks. Investors should closely follow market trends, manage risks prudently, and avoid excessive leverage. At the same time, they must recognize the high fluctuation of the cryptocurrency market and be well-prepared psychologically and in terms of capital management.