Bitcoin Price Movements Could Trigger Significant Liquidations

According to BlockBeats, data from Coinglass on October 19 indicates that if Bitcoin surpasses $69,000, the cumulative short liquidation intensity across major centralized exchanges (CEX) will reach $101 million. Conversely, if Bitcoin falls below $68,000, the cumulative long liquidation intensity will amount to $293 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 extent to which the underlying price reaching a certain level will be affected. Higher 'liquidation bars' suggest a stronger reaction due to liquidity waves when the price hits those levels.