ChainCatcher reports that, according to Coinglass data, if Bitcoin rebounds and breaks through $97,000, the cumulative short liquidation strength on major CEXs will reach 1.489 billion. Conversely, if Bitcoin drops below $87,000, the cumulative long liquidation strength on major CEXs will be 806 million.
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 importance of each liquidation cluster relative to nearby clusters, i.e., the intensity. Therefore, the chart shows how much impact the price reaching a certain level will have. Higher “liquidation bars” indicate that once the price reaches that level, it will trigger a stronger reaction due to liquidity waves.
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