@celestialrift
BTC has tested the 107k~108k range three times to the downside without triggering any major long liquidations, and now we’re starting to see some small short liquidations instead...
To me, this looks like someone is propping up the spot market. The reason? Probably because there’s a ton of short liquidity piling up above, and even if they didn’t plan to take it at first, the more it grows, the fatter the target becomes—eventually, they just can’t resist.
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