Matrixport: Short positions liquidation intensifies as Bitcoin approaches the key resistance level of $122,000.

On July 15, Matrixport released a daily analysis stating that the liquidation volume of Bitcoin short positions has significantly increased recently, approaching the highs of early November 2024. At that time, many traders attempted to short during the rebound, but the price did not decline as expected; instead, it oscillated after hitting a high and experienced a pullback due to tariff policies. Specifically, the weekly short liquidation volume in early November 2024 once surged to $1.1 billion, and it reached $900 million in the past week, indicating that short risk is re-accumulating. Although July has traditionally been a strong month for Bitcoin and 'encryption policy week' is about to begin, there are still a large number of short positions in the market that deserve attention. If Bitcoin breaks through $122,000, it not only has the potential to break the previous resistance level of $106,000 but may also continue the pump rhythm of every $16,000 level, releasing more upward potential.