Bitcoin Breaks Above 92.75K Amid Liquidation Battle: Two Key Price Levels Determine Hundreds of Millions in Movement

According to the latest data from Coinglass, both upward and downward movements of Bitcoin conceal significant liquidation pressures. The current BTC price has broken through 92.75K, just one step away from triggering a large-scale short squeeze at $91,584.

**Upward Pressure: Shorts Face a Major Threat**

Once Bitcoin surpasses the critical resistance at $91,584, the accumulated short positions across major mainstream exchanges will face a liquidation intensity of $1.897 billion. This means that short traders will be forced to close their positions, potentially creating a chasing effect that could further drive up the price. The current level of 92.75K is close to this trigger point, and the market's short side faces considerable risk.

**Downward Risk: Bulls on the Edge**

On the downside, if BTC falls below the support level of $83,214, long positions on major CEXs will encounter a liquidation wave of $1.618 billion. This lower limit is nearly $9,500 below the current price, and although the distance is significant, a larger decline could trigger a chain reaction of stop-losses among long traders.

**Market Insights**

From this set of data, Bitcoin is currently in a delicate balance with liquidation pressures on both sides. The levels of $91,584 and $83,214 act like pressure gauges, reflecting in real-time the degree of confrontation between bulls and bears. Traders need to closely monitor these two key levels, as breaking through either could trigger a reallocation of hundreds of millions of dollars.