Data: If Bitcoin Breaks $64,000, Cumulative Liquidations on Mainstream CEXs Will Reach $540 Million
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September 19, 2024
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Bitcoin Price Action Could Trigger Major Liquidations on CEXs
According to Coinglass data, a surge in Bitcoin price to $64,000 could trigger a massive liquidation of short positions on mainstream centralized exchanges (CEXs), reaching $540 million in total. Conversely, a drop below $60,000 could lead to a wave of long position liquidations, amounting to $708 million.
This liquidation chart reveals the sensitivity of the market to price movements, with higher "liquidation bars" indicating a more pronounced reaction due to the potential impact of liquidity waves at those specific price levels.
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