According to the latest data from Coinglass, Bitcoin’s price action could trigger significant liquidation events on mainstream centralized exchanges (CEXs). If Bitcoin’s value falls below $61,000, the cumulative liquidation intensity of long positions could reach a staggering $653 million.
On the other hand, if Bitcoin breaks above $64,000, shorts could face an even larger concentrated liquidation of $848 million.
The liquidation chart provided by Coinglass highlights the relative importance of these clusters, but does not indicate the exact number or value of contracts that will be liquidated. Instead, the chart shows the importance of each liquidation cluster relative to its neighbors, indicating the strength and potential impact of that cluster.
The data shows how these clusters represent important price levels and how Bitcoin's fundamental price could be affected if they reach these points. Higher "liquidation columns" indicate a stronger reaction in price action, reflecting the strength of the liquidity waves as Bitcoin approaches these levels.
