Bitcoin price above $72,000 would liquidate $800 million worth of leveraged shorts, making it a significant resistance level for BTC.
If the price of Bitcoin reaches $72,000, it would act as a “fuse,” triggering the breakthrough of the $75,000 psychological barrier.
Bitcoin (BTC) hitting $72,000 would spark a wave of mass liquidations, paving the way to new all-time highs, according to analyst Willy Woo.
Woo wrote in a June 5 X post to his 1.1 million followers: