Bitcoin Price Movements Could Trigger Significant Liquidations

According to BlockBeats, data from Coinglass indicates that if Bitcoin surpasses $63,000, the cumulative liquidation intensity of short positions on major centralized exchanges (CEX) will reach $1.015 billion. Conversely, if Bitcoin falls below $60,000, the cumulative liquidation intensity of long positions on major CEXs will amount to $689 million. BlockBeats notes that the liquidation chart does not display the exact number of contracts pending liquidation or the precise value of liquidated contracts. Instead, the bars on the liquidation chart represent the relative importance of each liquidation cluster compared to adjacent clusters, indicating intensity. Therefore, the liquidation chart illustrates the extent to which the target price reaching a certain level will be affected. Higher 'liquidation bars' suggest that the price reaching that level will result in a stronger reaction due to a liquidity wave.