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BTC hit 70000 this morning and was blocked from falling back, now reporting around $69190. The market is undergoing a high-level leverage wash. From the perspective of liquidation distribution, there is a clear concentration of multi head liquidation below: 68540-68850 USD: Core clearing area, with a maximum single-layer clearing intensity of approximately 27.1 million USD near 68650 USD; 67400-67800 USD: Second clearing zone, multi-layer strength approaching 20 million USD; 70000-70400 USD: A large number of short positions are liquidated above, with the highest single level reaching approximately 20.9 million USD. The contradiction in the current market is that BTC has just hit $70000, but it is first clearing down and chasing high bulls; But there is a large amount of short liquidity piled up above $70000. Short term focus on whether $68500-68900 can stop the decline. If held, as the long positions below clear, the market may still challenge $70000 again; If it falls, we need to be wary of further probing down to $67400-67800, and even pin clearing may occur. Looking at it the other way around, if BTC breaks through $7000-70400 again, the intense bearish liquidation above may trigger a bearish trend, further amplifying price fluctuations. Currently, BTC is engaged in a two-way clearing game: clear the long first, or ultimately push the short, the key is whether $68500 can be held. AiCoin's open data API now supports derivative data such as clearing maps and liquidation order history, allowing for real-time monitoring of long and short liquidity and strong flat movements https://www.aicoin.com/zh-Hans/opendata
