bitcoin Faces Liquidation Risks Near $108,000 Support
Bitunix analysts have issued a warning about Bitcoin’s (BTC) price near the $108,000 support level. They believe more liquidations could occur if BTC drops below this point.
On May 27, total crypto liquidations hit $211 million. Long positions took the biggest hit, with $131 million in liquidations, compared to $79.84 million in short positions. This imbalance suggests a long-side wipeout during Bitcoin’s recent dip.
Bitunix advises traders to be cautious. They recommend focusing on the $108,500–$109,000 support zone. Traders should not chase higher prices. Rather, they should wait for a clear break above the $110,800–$112,000 pressure band before taking new positions.
The liquidation heat map shows a cluster of liquidations around $108,000.This zone acts as a key liquidity support area. However, a drop below $108,000 could trigger more liquidations and further price declines.
Bitunix advises strict risk control.The market could weaken again if capital inflows do not resume. despite short-term risks, there are signs of a strong long-term outlook. A May 25 report by UTXO shows that bitcoin’s institutional demand is outpacing supply. This could lead to higher prices in the future.
