Glassnode Co-Founder: Bitcoin Accumulates Long Liquidation Risk Near $61,000, Potentially Triggering Further Downside

August 12, Glassnode co-founder published a post stating that over the past few weeks, Bitcoin has accumulated a significant amount of long liquidation risk around $61,000.

He pointed out that if the BTC price drops to this area, it could trigger leveraged longs' forced liquidation, further adding selling pressure and driving the price down. The current market needs to pay attention to the concentration of leverage positions, and if a cascade of liquidations occurs, forced selling may exacerbate short-term price volatility.