Bitcoin Price Alert: Breaking $78,000 Could Trigger $1.543 Billion in Short Liquidations

According to recent data from Coinglass reported by COINOTAG News on November 8th, the cryptocurrency market is witnessing a significant moment for Bitcoin. If Bitcoin surpasses the pivotal price of $78,000, the total short liquidation volume across major centralized exchanges (CEXs) could soar to a staggering $1.543 billion. Conversely, should the price decline below $75,000, the cumulative long liquidation value on these CEXs might reach $814 million.

It’s essential to understand that the liquidation chart provided does not specify the exact number of contracts or their respective values scheduled for liquidation. Instead, it denotes the intensity of each liquidation cluster, reflecting the potential market impact when these price thresholds are met. The height of the liquidation bars illustrates the level of market reaction anticipated, with higher bars indicative of a more severe price movement triggered by a liquidity cascade at these critical points.