BTC caught between liquidation risks: over $1.83 billion long positions versus $1.257 billion short positions

2026-01-13 10:32:03

Currently, BTC is priced at $92,122, in a delicate position. A downward break below $87,679 will trigger a $1.83 billion long liquidation; an upward break above $96,303 will result in a $1.257 billion short liquidation. This is not just a price data point but also reflects the real situation where both bulls and bears are operating at high risk margins in the current market.

Confrontation of Liquidation Risks on Both Ends

According to Coinglass data, BTC currently faces asymmetric liquidation pressures:

Direction	Trigger Price	Liquidation Strength	Distance from Current Price
Downside risk	$87,679	$1.83 billion	-$4,443
Upside risk	$96,303	$1.257 billion	+$4,181

The pressure to liquidate longs is significantly greater than that for shorts, indicating that bullish investors currently hold larger positions. If BTC breaks below $87,679, it will trigger a large-scale long liquidation, potentially accelerating the decline. In contrast, short liquidations, though smaller in amount, require a higher threshold (a rise of $4,181).

Market Sentiment Signals Flash Red

According to the latest data, Coinbase Bitcoin premium index has been in negative premium for 7 consecutive days, currently at -0.1184%. This indicator is crucial: negative premium means BTC prices on Coinbase (a major US exchange) are below the global average, typically reflecting strong selling pressure in the US market and reduced risk appetite among investors.

In other words, US compliant funds and institutional investors are reducing holdings or observing, resonating with the current high liquidation risk. The market is caught between large long positions (waiting for liquidation) and persistent US selling pressure, creating an unstable situation.

Recent liquidation frequency has been rising

In the past 24 hours, $75.93 million has been liquidated across the entire network, affecting 56,676 traders. While this figure is milder compared to some extreme conditions, it reflects increasing market volatility and a depletion of investors’ risk tolerance.

Key Observations of the Current Situation

Bull pressure is greater: $1.83 billion in long liquidation strength is 1.46 times that of shorts, indicating higher risk for bullish investors.
Price corridor is narrow: Only $8,624 of space between $87,679 and $96,303, about 9.3% volatility, leaving little room for error.
US market is reducing holdings: Persistent negative premium indicates cooling enthusiasm for dollar funds.
Market sentiment is fragile: Continuous liquidation data shows investors are still using aggressive leverage.

Summary

BTC is currently at a high-risk equilibrium point. Bulls have larger positions but face significant liquidation pressure; bears have smaller liquidation amounts but need larger price increases to trigger. Coupled with ongoing US selling pressure and frequent liquidations across the network, the market is testing investors’ nerves.

For traders, this situation suggests increased volatility, with potential for large one-sided moves to trigger chain reactions of liquidations. Managing risk exposure and avoiding excessive leverage are more important than seeking gains. The market will continue to fluctuate within this range, but any breakout in either direction could cause significant liquidity shocks.

BTC1,89%

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