"When it breaks through $115,000, short betting positions worth 9.6075 trillion won will be cleared"
An analysis has been released suggesting that BTC could experience an additional sharp rise if it breaks through $115,000, depending on futures market betting conditions.The on-chain analysis platform CoinGlass pointed out short betting positions scattered across the BTC futures market. According to data released by CoinGlass, approximately $70 billion (about 9.6075 trillion won) has been bet on short positions expecting a decline at $115,000 in the BTC futures market.
The analysis suggests that a 'short squeeze' could occur if BTC breaks through $115,000. A short squeeze refers to the situation where investors are forced to buy assets when the asset value rises sharply, contrary to their expectations.
However, another analysis has been released indicating that BTC has entered an 'overheated zone' and a correction is likely.
The on-chain analysis platform CryptoQuant attached the 'Market Realized Profit Band' indicator, which shows BTC investors' profit-taking situation, and announced that approximately 19.4 million BTC are currently realizing profits. Previously, in December 2024, the Market Realized Profit Band touched a similar range and declined from $107,000 to $93,000.
Reporter Seung-won Kwon ksw@blockstreet.co.kr
