BTC is only $4,700 away from $101,603, with a $2.335 billion liquidation intensity poised to trigger.

According to the latest data, if BTC breaks through $101,603, the cumulative short liquidation strength across major exchanges will reach $2.335 billion; conversely, if it falls below $92,003, the long liquidation strength will reach $2.245 billion. Currently, BTC is priced at $96,847, situated between two key levels, presenting an interesting symmetrical market structure.

Market Implications of Liquidation Strength

Precise Mapping of Bull and Bear Forces

Liquidation strength data reflects the concentration of leveraged positions of market participants at specific price points. The $2.335 billion short liquidation strength indicates that once BTC surpasses $101,603, these forced short positions will generate substantial buying pressure, potentially driving prices higher. Meanwhile, the $2.245 billion long liquidation strength below suggests a significant number of stop-loss orders, forming a relatively balanced market structure.

Strategic Significance of the Current Position

BTC’s current price of $96,847 is about $4,756 away from the upper key level of $101,603, representing roughly a 4.9% increase. This distance is neither too far nor too close, placing it in a “reachable but requiring momentum” zone. The support at $92,003 is about 5.3% below the current price, creating a relatively symmetrical upward and downward space.

Institutional Holdings Increasing Change the Game

Signals of Continued Accumulation

In recent days, institutional accumulation has been quite active. MicroStrategy added 13,627 BTC last week, bringing its total holdings to 687,410 BTC, maintaining the top spot among institutions; Trump Media deposited 2,000 BTC into Coinbase; Strive’s acquisition of Semler will bring its BTC holdings to 12,797.9 BTC. All these actions point in the same direction: institutional bullishness.

Market Expectations in Options

More interestingly, a whale paid two separate premiums of $1.14 million each to buy 9.8K USD call options expiring at the end of January, totaling 2,400 BTC. This indicates that large funds have a clear short-term bullish expectation, and the strike price of $98,000 is only 1.1% above the current price, showing a very positive outlook.

Possibility of Breaking Through $101,603

Technical Support

BTC has risen 7.79% over the past 7 days and 2.06% in the last 24 hours. Although the gains are not extraordinary, the trend remains upward. Technical analysis shows BTC has already broken through the key resistance at $94,326 and established active movement within the range of $90,966 to $88,890, laying a foundation for further ascent.

Dual Nature of Liquidation Strength

Here’s an interesting contradiction: the short liquidation strength above ($2.335 billion) is slightly greater than the long liquidation strength below ($2.245 billion). Numerically, it seems there is more resistance overhead. But from another perspective, it is precisely this $2.335 billion short liquidation strength that, once triggered, will produce strong buying pressure. In this sense, the overhead level may actually be a “weak” resistance.

Personal Viewpoint

Based on continuous institutional accumulation, bullish expectations in the options market, and an upward technical outlook, I believe the probability of breaking through $101,603 is quite high. The key question is not “whether it can break,” but “when” and “how far it can go after breaking.”

Downside Risks Should Not Be Ignored

If market sentiment suddenly shifts, the $2.245 billion long liquidation strength below $92,003 could also become a “pressure point.” However, considering the current increase in institutional holdings and options positioning, this risk appears relatively low.

Summary

BTC is currently in a highly balanced but slightly bullish market structure. The $2.335 billion short liquidation strength and the $4,756 distance, combined with ongoing institutional accumulation, all point toward the possibility of an upward breakout. The key observation is whether it can break through $101,603 in the near term. Once broken, this liquidation strength will serve as a catalyst for acceleration rather than resistance. For traders, the current position is a good opportunity to wait for a breakout, but they should also keep an eye on the stop-loss level at $92,003.