BlockBeats news, on August 1, according to Coinglass data, if Bitcoin falls below $114,000, the cumulative liquidation strength of long positions on mainstream CEX will reach $609 million.
Conversely, if Bitcoin breaks through $116,000, the cumulative liquidation strength of short positions on mainstream CEX will only reach $73.97 million.
BlockBeats Note: The liquidation chart does not display the exact number of contracts to be liquidated or the exact value of contracts being liquidated. The bars on the liquidation chart actually represent the importance, or strength, of each liquidation cluster in relation to nearby liquidation clusters.
Therefore, the liquidation chart shows the extent to which the underlying price reaching a certain level will be affected. A higher 'liquidation bar' indicates that once the price reaches that level, there will be a stronger reaction due to liquidity waves.
