On December 9, BlockBeats News reported that, according to Coinglass data, if Bitcoin drops below $98,000, the total cumulative long liquidation rate for mainstream CEX could reach $1.214 billion. Alternatively, if Bitcoin breaks the $100,000 milestone, the total accumulated short liquidation pressure for mainstream CEX will reach $136 million.
It is important to note that the liquidation charts do not display the specific number of contracts being liquidated or the exact contract values being liquidated. Instead, the bars in the liquidation chart reveal the importance or strength of each liquidation cluster, relative to adjacent clusters.
Therefore, the liquidation chart illustrates how significantly the underlying price will be influenced when it reaches a particular position. A higher “liquidation bar” signifies a greater price reaction to the wave of liquidity later.
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<p>The post Bitcoin’s $100k Milestone: Crypto Exchange Short Liquidations to Reach 136 Million first appeared on CoinBuzzFeed.</p>
