Bitcoin's climb is triggering a cascade of liquidations across the market. Short-term action shows an interesting dynamic: long positions stacked with high leverage are getting wiped out, while shorts have piled up hefty protection levels around 99k. The tension between these two sides is playing out in real time—one side getting squeezed as prices push higher, the other bracing for impact. This kind of leverage imbalance often precedes sharp moves in either direction.