If Bitcoin Falls Below $117,000, Total Long Liquidations on Major CEXs Will Reach $1.455 Billion

BlockBeats News, July 23 — According to data from Coinglass, if Bitcoin falls below $117,000, the cumulative long liquidation intensity on major CEXs will reach $1.455 billion.

Conversely, if Bitcoin rebounds and breaks above $119,000, the cumulative short liquidation intensity on major CEXs will be only $181 million.

BlockBeats note: The liquidation chart does not display the exact number of contracts pending liquidation or the precise value of contracts being liquidated. The bars on the liquidation chart actually represent the relative significance, or intensity, of each liquidation cluster compared to adjacent clusters.

Therefore, the liquidation chart shows the extent to which the underlying asset’s price reaching a certain level will be affected. A higher “liquidation bar” indicates that once the price reaches that level, there will be a stronger reaction due to a wave of liquidity.