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If Bitcoin falls below $66,000, the total liquidation strength of long positions on mainstream CEXs will reach $607 million.
According to Mars Finance, data from Coinglass shows that if Bitcoin falls below $66,000, the cumulative liquidation strength of long positions on major CEXs will reach $607 million. Conversely, if Bitcoin breaks above $69,000, the cumulative liquidation strength of short positions on major CEXs will reach $638 million. Note: The liquidation chart does not display the exact number of contracts to be liquidated, or the exact value of contracts being liquidated. The bars on the liquidation chart actually show the significance of each liquidation cluster relative to nearby liquidation clusters, that is, the intensity. Therefore, the liquidation chart demonstrates to what extent the underlying price reaching a certain level will be affected. A higher “liquidation bar” indicates that once the price reaches that point, a stronger reaction will occur due to liquidity waves.