If Bitcoin rebounds and breaks through $97,000, the cumulative short-selling intensity on major CEXs will reach $591 million.
TL;DR
If Bitcoin surpasses $97,000, $591M in short positions could liquidate on major CEXs; if it drops below $95,000, $135M in long positions may liquidate. The chart shows liquidation intensity, not exact values, indicating price impact strength.
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According to Coinglass data, if Bitcoin rebounds and breaks through $97,000, the cumulative short position liquidation intensity on major CEXs will reach $591 million.
Conversely, if Bitcoin falls below $95,000, the cumulative liquidation intensity of long positions on major CEXs will reach $135 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.