Bitcoin Price Predictions: $68K Could Trigger $580M Long Liquidation While $70K May See $873M Short Liquidation

On November 4th, COINOTAG highlighted significant liquidity levels in the cryptocurrency market, referencing Coinglass data. Currently, if Bitcoin dips below the $68,000 threshold, the total long liquidation potential across major centralized exchanges, or CEXs, could hit a staggering $580 million. Conversely, should Bitcoin rally above $70,000, we may witness cumulative short liquidation pressures of approximately $873 million. It’s crucial to note that the provided liquidation chart does not explicitly quantify the number of contracts subject to liquidation. Instead, it illustrates the intensity of potential liquidations, allowing investors to gauge the risk associated with price fluctuations. A taller liquidation bar on the chart signifies a pronounced market reaction, underscoring the importance of monitoring liquidity dynamics in the crypto landscape as key price levels are approached.