Bitcoin Price Actions Could Lead to Massive Liquidations
According to BlockBeats, Coinglass data suggests that if Bitcoin goes above $97,000, the total short liquidation intensity on major centralized exchanges (CEXs) could reach $725 million. Conversely, if Bitcoin drops below $94,000, the total long liquidation intensity on these exchanges could reach $514 million.
BlockBeats notes that the liquidation chart does not display the exact number of contracts pending liquidation or their exact value. Instead, the chart bars represent the relative importance of each liquidation group compared to nearby groups, indicating their severity.
The chart thus illustrates the potential impact on the market when the asset price reaches certain levels. A higher “liquidation bar” indicates a more intense reaction due to liquidity waves when the price reaches those points.
