💥💥💥💥Attention. #Bitcoin Price May Rise.
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If Bitcoin’s price rises above $57,000, the cumulative liquidation intensity of short positions on major centralized exchanges (CEX) will reach $786 million.
On the other hand, if Bitcoin’s price falls below $53,000, the cumulative liquidation intensity of short positions on major CEXs will reach $1.303 billion.
BlockBeats notes that the liquidation chart does not show the exact number of contracts pending liquidation or the exact value of contracts liquidated. Instead, the bars on the chart represent the relative importance of each liquidation cluster compared to adjacent clusters, indicating the density.
Therefore, the chart shows the extent to which the target price will be affected by reaching a certain level. Higher 'liquidation bars' indicate that if the price reaches that level, it will cause a more intense reaction due to liquidity waves.
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