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.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Trump Commends Musk’s Leadership of DOGE in Groundbreaking Government Reform

On May 31st, COINOTAG reported on a notable endorsement...

Bitcoin price rally driven by macroeconomic headwinds, not just spot BTC ETF flows Analyst

Bitcoin price rally driven by macroeconomic headwinds, not just...

Elon Musk’s Role as Advisor to Trump: A New Era for Government Efficiency?

In a significant announcement on May 31st, Elon Musk...

Whale James Wynn Faces $660,000 Loss on 40x Bitcoin Long Position Amid Market Volatility

In a recent update from COINOTAG, notable crypto whale...

Trump Media & Technology Group Rises 5.32% After Securing $2.44 Billion for Bitcoin Reserve

On May 31, COINOTAG reported a notable surge in...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img