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🚨Coinglass Warning: Surpassing the price of Bitcoin at 95 thousand dollars could lead to short liquidations worth 163 million
According to the latest data from Coinglass, Bitcoin (BTC) could trigger significant short pressure if it breaks above 95,000 dollars, with an estimated intensity of cumulative short liquidations across major centralized exchanges (CEX) reaching 163 million dollars.
Conversely, a drop below 93,000 dollars would jeopardize long positions, with an expectation of 68.45 million dollars in cumulative long liquidations, indicating a market with high leverage and critical price thresholds on both sides.
The breakout area of 95 thousand dollars holds the largest group of short liquidations
While Bitcoin is trading around 94,000 - 94,500 dollars, the 95 thousand dollar level has now become a technical and psychological turning point, with a large number of short positions susceptible to liquidation.
Although the Coinglass liquidation heatmap does not show the values of contracts or the exact amounts, it highlights the relative strength of liquidation groups, effectively showing how aggressively the price will react upon reaching certain levels.
"A higher liquidation chart means that the price will react more strongly to a wave of liquidity after reaching that point," explained Coinglass.