COINOTAG reports that, according to Coinglass data, a breach of the Ethereum $4,600 threshold would raise cumulative short liquidation intensity on major centralized exchanges to approximately $1.088 billion, while a drop below $4,400 would elevate cumulative long liquidation intensity to around $1.422 billion. These figures describe relative exposure across mainstream CEXs.
The source clarifies the visual metric: the liquidation chart displays the relative importance of each liquidation cluster rather than exact contract counts or notional values. Higher bars indicate an increased likelihood of a pronounced liquidity cascade at those price levels, amplifying market impact if reached.
Market participants and risk managers should treat these thresholds as conditional indicators from Coinglass data, incorporating them into order-book monitoring and position-sizing decisions without assuming guaranteed outcomes.