Bitcoin Price Movements: $62K Breakout Triggers $1.128B Short Liquidation on CEX

On October 4, COINOTAG utilized Coinglass data to highlight pivotal liquidation metrics for Bitcoin within mainstream centralized exchanges (CEX). Specifically, if Bitcoin surpasses the critical threshold of $62,000, the cumulative short order liquidation potency could reach a staggering $1.128 billion. In contrast, a dip below $60,000 might trigger a long order liquidation strength peaking at $454 million. It’s crucial to note that the liquidation chart emphasizes the relative strength of each cluster rather than providing exact contract volumes or precise values. Essentially, these clusters illustrate how significantly the underlying price might fluctuate upon reaching specific levels. Consequently, a more pronounced “liquidation column” indicates a more intense market response to ensuing liquidity waves. Traders and investors should closely monitor these thresholds to strategically position themselves amid volatile market dynamics.