Bitcoin is trending higher at spot rates, floating above $60,000 and confirming gains of September 13. From price action in the daily chart, buyers appear to be back in the picture. The confidence follows the United States Federal Reserve’s (Fed) decision to slash rates by 50 basis points on September 18. Over $21 Billion Of Shorts To Be Liquidated If Bitcoin Breaks $70,500 While buyers double down, flocking back to BTC, looking at the sharp uptick in trading volume over the past day, one analyst on X has identified an interesting observation if bulls continue to dominate. Citing market data and the liquidation map of Binance perpetuals, the analyst said if Bitcoin flies above $70,500, over $21 billion of shorts will be liquidated. Liquidation happens in the perpetuals market where leverage traders aim to clip market volatility for profit. There are longs, or traders banking on bulls to press prices higher, and shots, betting for prices to drop. Related Reading: October To Remember: Descending Broadening Wedge Says Bitcoin Is Going To $90,000 These positions are leveraged in both instances, meaning they borrow funds fr ..
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