Bitcoin Price Alert: Liquidation Risk Surges as $113,000 and $117,000 Levels Approach

On August 18th, COINOTAG reported on pivotal liquidations within the cryptocurrency market, showcasing data from Coinglass that highlights critical price thresholds for Bitcoin. Should Bitcoin drop below $113,000, the cumulative long liquidation on prominent centralized exchanges (CEXs) could surge to an alarming $984 million. Conversely, a breakout above $117,000 might trigger a cumulative short liquidation amounting to $688 million. It’s crucial to note that the liquidation chart presented does not reflect the exact number of contracts pending liquidation but rather illustrates the relative intensity of liquidation clusters. This means that the chart emphasizes how significantly market reactions could occur as the price approaches these key levels. A taller liquidation bar suggests a heightened potential for impactful price movements, indicating the importance of monitoring these thresholds closely for any potential liquidity cascades.