Bitcoin Price Movements Could Trigger Significant Liquidations

According to BlockBeats, data from Coinglass indicates that if Bitcoin surpasses $117,000, the cumulative liquidation intensity of short positions on major centralized exchanges (CEX) will reach $404 million. Conversely, if Bitcoin falls below $114,000, the cumulative liquidation intensity of long positions on major CEXs will amount to $475 million. BlockBeats notes that the liquidation chart does not display the exact number of contracts pending liquidation or the precise value of liquidated contracts. Instead, the bars on the chart represent the relative importance of each liquidation cluster compared to nearby clusters, indicating intensity. Therefore, the chart illustrates the potential impact on the market when the asset price reaches certain levels. A higher "liquidation bar" suggests a stronger market reaction due to liquidity waves when the price hits those levels.