Bitcoin price slipped by 6.51% over the past week and currently hovers near the $102,853 level. At that price, $5 billion worth of short positions face risk of liquidation if BTC price jumps to $115,000.
This amount is nearly 3x the amount of liquidated long positions when the largest cryptocurrency fell from $116,000 to $104,000.
Last month, a sharp recovery of Bitcoin price saw the liquidations of $160 million worth of short positions within a short span of 30 minutes.
At the time, the price of the cryptocurrency quickly tested $115,000 resulting in the bloodbath.
Short Positions Face $5 Billion Liquidation Risk If Bitcoin Price Bounces Back to $115,000
The Bitcoin liquidation map outlined a critical overhead structure as price drifted along the 50-day exponential moving average.
The map indicated a massive pocket of short-liquidation liquidity was sitting just above the market.
The first layer between $105,500 and $107,500 held roughly $700 million in short positions that would have been forced to unwind if buyers pushed the market only slightly higher.
That zone alone was enough to shift momentum, yet the real pressure was positioned further up.
The heatmap shows that the Bitcoin price levels between 108,000 and $111,000 have the largest concentration of vulnerable shorts.
The total liquidation value within this level totals $2.2 billion and $2.8 billion, an amount large enough to ignite a meaningful short squeeze.
The heatmap highlighted this block as the brightest stretch of liquidity, a sign that sellers had piled in aggressively during the earlier decline and were now sitting on a trap door.
A clean move into that range would have forced shorts to buy back rapidly, increasing volatility and accelerating any breakout.
Beyond that, if Bitcoin price extended toward $115,000, it would trigger another $1.0 to $1.3 billion in liquidations waiting above $111,000.
Combined, the total short exposure between the spot level and $115,000 approached nearly $5 billion, according to the map.
As of early yesterday on November 5, @BTC_Archive estimated roughly $8 billion in Bitcoin shorts could be liquidated if the price surges by just 9% to reach the $113,000 mark.
Tug of War Between Bulls & Bears Lies At $103,611
At present, Bitcoin trades near a crucial level, $103,611. This area is a pivotal battleground between leveraged longs and shorts.
On BTC_Archive’s chart, the heatmap illustrates how cumulative short liquidations (in teal) begin to rise sharply beyond the $106,000 zone, suggesting that a breakout above this threshold could trigger a powerful cascade of forced buy orders.
Meanwhile, cumulative long liquidations (in red) remain relatively steady, gradually tapering off as price action drifts upward.
This is an indication that the majority of the long positions got flushed or are in the process of being flushed by the recent slide in Bitcoin price.
Moreover, derivative insights from exchanges, Binance, OKX, and Bybit show a noticeable increase in leverage and open interest. As per the data, this increase is particularly high along Bitcoin price resistance.