According to on-chain data monitoring, Bitcoin's price fluctuations are becoming a significant trigger for market liquidations.

Specifically, if BTC rises above the key level of $99,311, short positions on mainstream exchanges will face considerable pressure—potentially totaling $807 million in liquidations. This means traders betting on BTC's decline will likely hit stop-loss points simultaneously, possibly leading to a rapid market rebound.

Conversely, risks are also lurking on the other end. If BTC drops below $91,079, the bulls' days will become difficult. The liquidation of long positions on mainstream exchanges could also reach $807 million, and this wave of liquidations could trigger a chain reaction, potentially accelerating the downward move.

The arbitrage opportunities and risk exposure between these two extreme price levels are worth paying attention to. For short-term traders, these two figures serve as important reference points—they represent the boundary of market sentiment and also reflect the current fragility of leveraged positions.