Bitcoin Price Movements Could Trigger Significant Liquidations

According to BlockBeats, recent data from Coinglass indicates that if Bitcoin's price falls below $91,000, the cumulative liquidation intensity of long positions on major centralized exchanges (CEX) could reach $768 million. Conversely, if Bitcoin surpasses $94,000, the cumulative liquidation intensity of short positions on these exchanges could amount to $565 million.BlockBeats notes that the liquidation chart does not precisely display the number of contracts pending liquidation or the exact value of liquidated contracts. 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 a certain level. A higher 'liquidation bar' suggests that once the price hits that point, there will be a more intense reaction due to a wave of liquidity.