Bitcoin Price Movements Could Trigger Significant Liquidations

According to BlockBeats, data from Coinglass indicates that if Bitcoin's price falls below $74,000, the cumulative liquidation intensity of long positions on major centralized exchanges (CEX) will reach $476 million. Conversely, if Bitcoin surpasses $78,000, the cumulative liquidation intensity of short positions on these exchanges will amount to $982 million. BlockBeats notes that the liquidation chart does not display the exact number of contracts pending liquidation or their precise value. Instead, the chart's bars represent the relative importance of each liquidation cluster compared to nearby clusters, indicating intensity. Therefore, the chart illustrates the potential impact on the market when the asset price reaches certain levels. A higher "liquidation bar" suggests that reaching that price will trigger a more intense reaction due to a wave of liquidity.