If Bitcoin falls below $84,000, the total liquidation intensity of long positions on major centralized exchanges will reach $623 million.
TL;DR
If Bitcoin drops below $84,000, long position liquidations on major exchanges could hit $623 million. A rise above $88,000 would trigger $533 million in short liquidations. The chart shows liquidation intensity, not exact values, indicating price impact strength.
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According to Coinglass data, if Bitcoin falls below $84,000, the cumulative liquidation intensity of long positions on major CEXs will reach $623 million.
Conversely, if Bitcoin breaks through $88,000, the cumulative short position liquidation intensity on major CEXs will only be $533 million.
BlockBeats Note: The liquidation chart does not show the exact number of contracts pending liquidation, or the exact value of contracts being liquidated. The bars on the liquidation chart actually represent the importance, or strength, of each liquidation cluster relative to its neighboring liquidation clusters.
Therefore, the liquidation chart shows the extent to which the price of an asset is affected when it reaches a certain level. Higher "liquidation bars" indicate that the price will react more strongly due to the liquidity surge once it reaches that level.