Bearish Move in Bitcoin: 5,375 BTC in Short Positions at Critical Levels

High-leverage short positions opened in anticipation of a Bitcoin (BTC) decline have surged to a total of 5,375 BTC, worth approximately $343 million.

Lookonchain reported that the battle between bullish and bearish trades in the Bitcoin market is intensifying. According to the platform’s post on August 11, four investors opened short positions totaling 3,895 BTC in anticipation of a price decline. While the total value of these trades stood at $249.4 million, the liquidation prices for the positions ranged between $64,600.83 and $66,545.09.

However, Lookonchain’s latest update revealed that sell-side positions have grown even further. The total short position of the four investors reached 5,375 BTC, with the total value of the trades calculated at $343 million. The trades utilized 40x and 20x leverage. Position sizes were approximately 1,790, 1,580, 1,200, and 806.10 BTC, with liquidation levels recorded at $64,101.12, $64,576.56, $66,006.80, and $66,030.04.

Critical Liquidation Levels for Bitcoin Short Positions

The liquidation price refers to the point at which a leveraged position is forcibly closed by the exchange if Bitcoin reaches that specific level. While the lowest liquidation level is $64,101.12, the other three positions are at levels between $64,576.56 and $66,030.04.

On the other hand, a previous update noted that two investors were holding long positions totaling 1,547 BTC, valued at $99.08 million. The liquidation prices for these positions were at the $61,200.15 and $61,831.74 levels. Thus, high-leverage trades in the market have created significant liquidation thresholds for both upside and downside movements.