#StablecoinPayments
Movements in the price of Bitcoin may trigger significant liquidations on major exchanges.
According to BlockBeats, data from Coinglass indicates that if Bitcoin exceeds $98,000, the cumulative liquidation severity of short positions on major centralized exchanges (CEX) could reach $390 million.
Conversely, if the value of Bitcoin falls below $94,000, the cumulative liquidation severity of long positions on these exchanges could reach $270 million.
BlockBeats notes that the liquidation chart does not display the exact number of pending contracts for liquidation or their exact value. Instead, the chart bars represent the relative significance of each liquidation group compared to nearby groups, indicating the severity.
Thus, the chart illustrates the potential impact on the market when the asset price reaches certain levels. Higher 'liquidation bars' indicate that reaching these prices may lead to more severe reactions due to liquidity waves.
