BlockBeats, citing Coinglass data, reported that Bitcoin’s price movement could lead to significant liquidation events on mainstream centralized exchanges (CEXs). If Bitcoin rebounds and surpasses the $62,000 mark, the cumulative short order liquidation intensity could reach $815 million. On the other hand, if Bitcoin drops below $58,000, the cumulative long order liquidation intensity is expected to hit $773 million.
BlockBeats clarified that the liquidation chart does not display the exact number or value of contracts to be liquidated. Instead, the chart shows the relative strength of each liquidation cluster compared to adjacent clusters. A higher “liquidation column” indicates a stronger market reaction at a given price point, suggesting that price movements will have a greater impact once these liquidation levels are triggered.
This data highlights how key price thresholds could lead to significant market volatility as leveraged positions are liquidated in response to Bitcoin’s price fluctuations.
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<p>The post Bitcoin Rebounds: Short Order Liquidation Intensity Nears $815M on CEX first appeared on CoinBuzzFeed.</p>
