According to Coinglass data reported by BlockBeats on September 11, if Bitcoin drops below $55,000, the total liquidation of long orders on major CEX platforms could reach $765 million. On the other hand, if Bitcoin exceeds $58,000, the total liquidation of short orders on these platforms could amount to $585 million.
BlockBeats clarifies that the liquidation chart does not specify the exact number or value of contracts being liquidated. Instead, it illustrates the relative significance of different liquidation clusters. Thus, the chart indicates how significantly the underlying price could be impacted when it reaches certain levels. A higher "liquidation column" suggests a stronger price reaction to the subsequent liquidity wave.
