Bitcoin's ascent beyond $84,000 triggered nearly $140 million in short position liquidations following a weekly close above $83,000 on October 12. This surge caused significant liquidations for traders positioned against the market's upward momentum. Currently, a new wall of bearish leverage is accumulating between the $86,000 and $88,000 price levels. These zones represent the next significant areas of potential market resistance.
Bitcoin's weekly close above $83,000 forced massive short-seller exits, with technical data showing a new wall of bearish leverage building toward $88,000.
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