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$ETH July 13, according to Coinglass data, if Bitcoin falls below $61k, the cumulative liquidation long position strength on major CEXs will reach $501 million.
Conversely, if Bitcoin breaks above $65k, the cumulative liquidation short position strength on major CEXs will reach $882 million.
BlockBeats Note: The liquidation chart does not display the exact number of contracts to be liquidated, or the exact contract value being liquidated. The bars on the liquidation chart actually show how important each liquidation cluster is relative to the nearest liquidation cluster, i.e., the intensity.
Therefore, the liquidation chart shows to what extent the target price reaching a certain level will be affected. A higher “liquidation bar” means that once the price reaches it, it will trigger an even stronger reaction due to the liquidity wave.