Glassnode co-founder said Bitcoin has accumulated significant long liquidation risk near $61,000 over the past few weeks. A drop to that zone could trigger forced unwinding of leveraged longs, adding sell pressure and driving prices lower. Markets should watch concentrated leverage positions.
BlockBeats reported on August 12 that a Glassnode co-founder said Bitcoin has built up substantial long liquidation risk around the $61,000 level over the past few weeks.
According to the co-founder, if BTC falls into that zone, leveraged longs could be forced to unwind, adding sell pressure and pushing prices down. Market participants should keep an eye on concentrated leverage positions, as a wave of liquidations might amplify short-term volatility.
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