The cryptocurrency market in India witnessed a significant wave of liquidations in the past 24 hours, resulting in total losses of $635.9 million, with a major portion coming from short positions. Bitcoin (BTC) led the liquidation charts by wiping out $293 million in short positions as it surged past $94,000, marking a 6.29% gain within a day. Ether (ETH) followed suit with over $109 million in short liquidations as its price climbed nearly 10% to $1,787. Exchanges like Binance, Bybit, and OKX experienced substantial liquidation volumes, primarily targeting short positions. Amid the market volatility, crypto analyst Mister Crypto highlighted the accumulation of liquidity around the $100,000 level for Bitcoin, hinting at a potential short squeeze that could drive BTC closer to six figures. A short squeeze occurs when a rapid price increase forces traders betting against the market to cover their positions, leading to further upward momentum. While Bitcoin surged to a 45-day high above $94,000 on April 23, opinions vary on whether it will reach $100,000 soon. Vincent Liu, chief investment officer at Kronos Research, emphasized that factors like the outcome of the May 6 Federal Open Market Committee meeting and ongoing trade negotiations will play a crucial role in determining Bitcoin’s future price movements. US monetary policy is expected to be pivotal in deciding if Bitcoin can reach the coveted $100,000 milestone.