According to data from December 16, if Ethereum breaks above $4100, the liquidation intensity for short positions on mainstream platforms will reach $715 million. Conversely, if Ethereum falls below $3900, the liquidation intensity for long positions on mainstream CEX will reach $600 million.

It is important to note that the liquidation chart does not accurately display the number of contracts pending liquidation or the value of contracts liquidated. The bar chart in the figure represents the strength of each liquidation cluster relative to neighboring clusters, reflecting the potential liquidation impact when the price reaches a certain level. The higher the bar chart, the stronger the market reaction may be due to liquidity fluctuations after the price reaches that position. 29258241557