BlockBeats News, on August 10, according to Coinglass data, if Bitcoin breaks through $120,000, the cumulative short liquidation intensity on mainstream CEXs will reach $1.154 billion.
Conversely, if Bitcoin falls below $116,000, the cumulative long liquidation intensity on mainstream CEXs will be $950 million.
BlockBeats Note: The liquidation chart does not show the exact number of contracts to be liquidated or the exact value of the contracts being liquidated. The bars on the liquidation chart actually represent the importance, or strength, of each liquidation cluster relative to nearby liquidation clusters.
Therefore, the liquidation chart shows to what extent 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.
