Bitcoin Price Triggers Potential Liquidations on Major CEXs

Mars Finance reported on September 17th, citing Coinglass data, that if Bitcoin were to rise above $60,000, the total liquidation strength for short positions on major centralized exchanges (CEXs) would reach $9.51 billion. Conversely, if Bitcoin falls below $57,000, the total liquidation strength for long positions on major CEXs would reach $9.25 billion.

BlockBeats Note: The liquidation chart does not display the exact number of contracts to be liquidated or the precise value of the liquidated contracts. The bars on the chart illustrate the relative importance of each liquidation cluster compared to neighboring clusters, i.e., their strength.

Therefore, the liquidation chart reveals the extent to which the target price will be impacted when it reaches a certain level. A higher "liquidation bar" indicates a stronger reaction due to liquidity waves when the price reaches that level.