BlockBeats News, March 6th, according to Coinglass data, if Bitcoin breaks through $72,000, the total liquidation strength of mainstream CEX short positions will reach $643 million.
Conversely, if Bitcoin falls below $70,000, the total liquidation strength of mainstream CEX long positions will reach $229 million.
BlockBeats Note: The liquidation chart does not display the exact number of contracts to be liquidated or the exact value of contracts to be liquidated. The bars on the liquidation chart actually represent the importance of each liquidation cluster relative to adjacent liquidation clusters, i.e., strength.
Therefore, the liquidation chart shows to what extent reaching a certain price level will have an impact. A higher “liquidation bar” indicates that the price reaching that level will trigger a more intense reaction due to a liquidity cascade.
