Around 75% of short-term Bitcoin investors are currently experiencing a profit, a situation that could potentially drive Bitcoin’s price even higher.

The recent dramatic increase in the value of Bitcoin has been a source of great relief for short-term holders. This group had experienced a substantial decline in the value of their holdings, with over 90% of their assets showing losses back in late July.

Short-term holders are often used as an indicator for investors trying to assess the demand for Bitcoin and analyze recent purchasing behaviors.

Despite the looming threat of a massive $3.9 billion Bitcoin (BTC) futures contract expiry, which had the potential to drive its price to $63,000, Bitcoin defied the odds and held its value above a key support level.

Despite the recent significant recovery in Bitcoin’s price, it is now facing substantial resistance at the important psychological level of $68,000.

According to data from CoinGlass, there is almost $700 million worth of leveraged short positions across all exchanges, which could potentially be liquidated if Bitcoin manages to surpass the $68,000 mark.

If the price of Bitcoin rises above $68,500, it is anticipated that short liquidations could amount to over $1 billion. However, whether this level is reached depends on the amount of funds flowing into US spot Bitcoin exchange-traded funds (ETFs).

According to Farside Investors data, inflows into the US spot Bitcoin ETFs have been decreasing since July 23, amounting to $31.1 million in cumulative inflows on July 25.