Bitcoin Price Volatility Could Lead to Over $150 Million in Liquidations

According to BlockBeats and data from Coinglass, Bitcoin's price fluctuations could trigger significant liquidations in the cryptocurrency market. On October 6, it was reported that if Bitcoin breaks through the $63,000 mark, the cumulative short order liquidations on mainstream centralized exchanges (CEX) could reach as high as $155 million.Conversely, if Bitcoin falls below $61,000, the cumulative long order liquidations could climb to $158 million. This stark contrast highlights the potential volatility surrounding Bitcoin's price movements.BlockBeats notes that the liquidation chart illustrates the impact on market prices when specific positions are reached. A higher “liquidation column” indicates a stronger market reaction as the price approaches these critical levels, underscoring the heightened risks for traders in the current environment.