Analysis: If BTC breaks through the $90,000 resistance level, it may lead to a "short squeeze" liquidation of $1.6 billion

PANews reported on March 15 that, according to Cointelegraph, the CME Group Bitcoin futures gap between $85,000 and $86,000 was not filled at the end of last week, and the probability of Bitcoin turning to liquidity upward is increasing, and triggering a liquidation above $85,000 may further boost the bullish momentum, making Bitcoin form a new high and turn $85,000 into a new support level. If that happens, the next key resistance level will be at $90,000, which could lead to the liquidation of more than $1.6 billion of short positions, retesting the $95,000 resistance level above. Bitcoin analyst Mark Cullen warned that bitcoin prices will continue to move correctively, implying further sideways trading before a short squeeze occurs.