Analysis: If BTC breaks through the $90,000 resistance level, it may cause the 1.60 billion dollar to be liquidated by "short squeeze"

On March 15th, according to Cointelegraph, the CME Bitcoin futures gap was not filled between $85,000 and $86,000 last weekend. At present, the possibility of Bitcoin turning to liquidity upside is increasing. Triggering a liquidation above $85,000 could further drive bullish momentum, allowing Bitcoin to form a new high and turn $85,000 into a new support level. If this happens, the next key resistance level will be at $90,000, which could lead to the liquidation of short positions over $1.60 billion, thus re-testing the resistance level above $95,000. Bitcoin analyst Mark Cullen warned that the price of Bitcoin will continue to move in corrective volatility, which means further sideways consolidation before a short squeeze occurs.