I believe the market isn’t like the early years anymore when whales made the market surge, or crash simply by market buying up, or market selling down, liquidating longs or shorts.
Although, bitcoin price volatility is decreasing but there are many long or short it that resulted to liquidation, especially short, bit that depends on the leverage used.
For example, bitcoin short position taken this year with 1x leverage at $30000, if not closed, the bitcoin will be liquidated at $60000. Bitcoin at $60000, then it decreased to $30000, anyone that long at $60000 at the time with 2x leverage will result to liquidation at $30000, how about 5x long at $60000, the liquidation will be $48000, but no liquidation will ever happen at 1x or if simply holding bitcoin.
Over long term, the result is long position, what is not dangerous is what is similar to holding which is 1x long. But best to just have the private key and hold, that is automatically 1x long, price will reach all-time-high.