According to recent Coinglass data reported by COINOTAG on February 19th, Bitcoin’s price stability is under significant observation as it approaches critical thresholds. If the cryptocurrency dips below $93,000, cumulative long liquidations across major centralized exchanges (CEXes) could reach an alarming $468 million. On the flip side, should Bitcoin ascend past $97,000, short liquidations may accumulate to approximately $350 million. It is crucial to note that the liquidation chart provided does not specify the precise number of contracts or their corresponding values destined for liquidation. Instead, it indicates the intensity of liquidation clusters, highlighting the degree to which Bitcoin’s price may react when it touches these pivotal levels. A higher intensity level denotes a potential liquidity cascade, which could lead to marked volatility in the market.
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