Bitcoin Price Movements Could Trigger Significant Liquidations on Major Exchanges

AI Summary

According to BlockBeats, data from Coinglass indicates that if Bitcoin surpasses $98,000, the cumulative liquidation intensity of short positions on major centralized exchanges (CEX) could reach $390 million.

Conversely, if Bitcoin falls below $94,000, the cumulative liquidation intensity of long positions on these exchanges could amount to $270 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. Higher "liquidation bars" suggest that reaching these prices could lead to more intense reactions due to liquidity waves.$BTC #BinanceAlphaAlert