Bitcoin Price Movements Could Trigger Significant Liquidations on Major Exchanges

According to BlockBeats, data from Coinglass indicates that if Bitcoin's price falls below $106,000, the cumulative liquidation intensity of long positions on major centralized exchanges (CEX) will reach $434 million. Conversely, if Bitcoin surpasses $110,000, the cumulative liquidation intensity of short positions on these exchanges will amount to $361 million. BlockBeats notes that the liquidation chart does not display the exact number of contracts pending liquidation or their precise value. Instead, the bars on the chart 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 a stronger reaction due to a liquidity surge when the price hits that point.