According to BlockBeats, data from Coinglass shows that if the price of Bitcoin falls below $106,000, the cumulative liquidation intensity of long positions on major centralized exchanges (CEX) will reach $434 million.
Conversely, if Bitcoin surpasses $110,000, the cumulative liquidation intensity of short positions on these exchanges will rise to $361 million.
BlockBeats notes that the liquidation chart does not display the exact number of contracts waiting to be liquidated or their exact value. Instead, the bars on the chart represent the relative significance of each liquidation cluster compared to the surrounding clusters, indicating intensity.
Therefore, the chart illustrates the potential impact on the market when the asset price reaches certain levels. A higher 'liquidation bar' indicates a stronger reaction due to increased liquidity when the price reaches that point.
- Trading pairs: $BTC ETH BNB DOGE