I just noticed that ETH is currently at $2.32k, higher than the liquidation levels that major CEX exchanges are monitoring. According to data from Coinglass, if Ethereum's price drops to $2,100, approximately $896 million in short positions will be liquidated on major CEXs. Conversely, if Ethereum falls to $1,900, long positions will face pressure with $650 million being liquidated.

The interesting thing about the liquidation chart is that it shows the "concentration" level of liquidation orders at certain price levels. The taller "columns" on the CEX chart mean that when the price reaches those levels, there will be a stronger liquidity wave. In other words, it helps us see which price zones could trigger the strongest reactions from CEX exchanges.

In reality, this chart does not give us the exact number of contracts or the precise value of each position, but only displays the "relative intensity" between nearby liquidation clusters. Therefore, when looking at the "peaks" on the chart, we are observing the price points where major CEXs are most likely to react strongly.