Glassnode: Large-scale long liquidation risk below BTC's current support level

According to analysis from on-chain data platform Glassnode (@glassnode), BTC is currently trading around $80,868, positioned near a key support level. However, a large concentration of long liquidations is clustered just below this support, with another major liquidation cluster forming around $75,000. Meanwhile, significant short liquidations have accumulated above $85,000. Glassnode notes that the lower liquidation cluster is currently more vulnerable than the upper one, indicating a risk of further downside.