BlockBeats News Update: On October 2nd, according to Coinglass data, if Bitcoin breaks above $120,000, the cumulative short liquidation strength on mainstream CEXs will reach $7.37 billion.
Conversely, if Bitcoin falls below $117,000, the cumulative long liquidation strength on mainstream CEXs will reach $5.63 billion.
BlockBeats Note: The liquidation chart does not accurately display the precise number of contracts to be liquidated or the exact value of contracts being liquidated. The bars on the liquidation chart actually represent the importance of each liquidation cluster relative to neighboring clusters, i.e., the strength.
Therefore, the liquidation chart shows to what extent the target price reaching a certain level will be affected. A higher “liquidation bar” indicates that once the price reaches that level, it will experience a more intense reaction due to a liquidity cascade.
