The price movements of Bitcoin could trigger significant liquidations on major exchanges
AI Summary
According to BlockBeats, data from Coinglass indicates that if Bitcoin surpasses $105,000, the cumulative intensity of short position liquidations on major centralized exchanges (CEX) will reach $1.231 billion. Conversely, if Bitcoin falls below $102,000, the cumulative intensity of long position liquidations on these exchanges will rise to $800 million.
BlockBeats notes that the liquidation chart does not accurately show the number of contracts pending liquidation or the exact value of liquidated contracts. Instead, the bars on the chart represent the relative importance of each liquidation group compared to nearby groups, indicating intensity.
Therefore, the chart illustrates the extent to which the target price upon reaching a certain level will be affected. A higher "liquidation bar" suggests that once the price reaches that level, there will be a stronger reaction due to waves of liquidity.
