BlockBeats news, on August 10, according to Coinglass data, if Bitcoin breaks through $120,000, the cumulative short liquidation intensity on mainstream CEX will reach $359 million.
Conversely, if Bitcoin drops below $117,000, the cumulative long liquidation intensity on mainstream CEX will reach $274 million.
BlockBeats note: The liquidation chart does not display the exact number of contracts pending liquidation or the exact value of contracts being liquidated. The bars on the liquidation chart actually show the significance of each liquidation cluster relative to nearby liquidation clusters, i.e., intensity.
Thus, 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 point, it will trigger a stronger reaction due to liquidity waves.
