BTC, the brightest spot on the heat map is concentrated in the 75,000 to 76,000 range. When BTC touched 76,000, it wiped out all the short positions in this area in one sweep, because many people had their stop losses set in this zone and got liquidated in the wave. Looking at the heat map now, the "corpses" of shorts near 76,000 have been mostly cleared out, but moving up further to 78,000, there's another layer of new short defensive positions stacked up. Looking downward, the 72,000 level is actually where longs have their stop losses, and if the price drops down there, it could trigger a cascading liquidation.

BTC-0.47%
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