Based on data from Coinglass as of August 10, Bitcoin is at a critical point. If the price surpasses US$ 120.000, centralized exchanges (CEXs) may face a liquidation of short positions worth US$ 359 million.
On the other hand, if Bitcoin falls below US$ 117.000, the intensity of liquidation of long positions may reach US$ 274 million.
Understanding the Liquidation Chart
The liquidation chart does not show exact values but rather the "intensity" of each movement. A taller bar on the chart indicates that if the price reaches that level, the market's reaction will be stronger, potentially causing a cascading effect of liquidations.
