COINOTAG reported on September 24, citing Coinglass data, that a drop in Ethereum below $4,100 would correspond to an estimated cumulative long liquidation intensity of approximately $1.012 billion across major CEXes, while a move above $4,300 would align with cumulative short liquidation intensity near $1.356 billion. These metrics are presented as intensity estimates and should be interpreted as indicators of potential deleveraging pressure rather than precise contract counts.
COINOTAG also highlights that the published liquidation chart conveys the relative significance of liquidation clusters—i.e., the intensity—rather than exact contract volumes. Consequently, taller liquidation bars signal levels where price action may face a stronger reaction through a liquidity cascade, informing risk management and positioning strategies for market participants.