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If Bitcoin reaches $120,000, how many shorts will be liquidated?

Source: CoinWorld
Bitcoin has steadily climbed to $120,000, which could trigger short liquidation of more than $2.4 billion, with a large number of positions concentrated between $116,000 and $120,000, mainly concentrated in 25 to 100 times of high leverage positions. Breakthrough of $120,000 may increase upward pressure through short squeeze, but if it fails to break through $120,000, it may fall back to the support level of $112,000 to $113,000. Analysts point out that derivatives positions are driving short-term volatility, with bullish sentiment prevailing before the Fed expects a rate cut next week.
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