On May 20th, COINOTAG News reports that data from Coinglass reveals significant thresholds for Bitcoin’s price movements. Should Bitcoin surpass the $10.8K mark, the total cumulative short liquidation across mainstream Centralized Exchanges (CEXs) could surge to approximately $656 million. Conversely, a decline below the $10.4K threshold may trigger cumulative long liquidations hitting around $432 million.
It’s essential to note that the liquidation chart provided does not specify the exact number of contracts that are pending liquidation or their precise values. Instead, the bars on the chart illustrate the intensity of each liquidation cluster compared to adjacent ones. This visualization indicates how asset prices at specified levels can influence market dynamics. A heightened “liquidation bar” suggests that reaching this price could lead to a more pronounced market reaction, due to an ensuing liquidity cascade.