Bitcoin traders are witnessing increased betting ahead of the weekly close as BTC approaches key price levels. A notable uptick in BTC price could ignite a significant short squeeze, with estimates suggesting that a 10% increase could lead to the liquidation of $15.11 billion in short positions. Traders speculate on a potential rebound following recent price corrections, with Bitcoin having reclaimed its weekly open level of around $105,500. Analysts emphasize the importance of maintaining support levels, particularly at $100,000, where long positions are being established. Key trader insights note that daily closes above the 10-day moving average are crucial for validating bullish sentiment. Liquidation risk is heightened as price movements are forming a tightening pattern around current levels. Data suggests substantial short positions have emerged, increasing the likelihood of a major price shift, either upwards or downwards, based on market liquidity. Overall, the market is poised for pivotal moves, and the sentiment remains cautiously optimistic following recent trends.

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