COINOTAG, citing Coinglass data on December 18, highlights Bitcoin price risk indicators tied to exchange liquidity. The report shows that a drop below $85,000 could push the cumulative long liquidation intensity across mainstream CEXs to roughly $1.052 billion, underscoring potential leverage unwind pressure in the near term.

In contrast, a move above $88,000 may trigger a substantial short liquidation intensity around $371 million. COINOTAG notes that the accompanying liquidation chart conveys the relative significance of each cluster, not exact contract counts. Higher intensity bars imply a greater likelihood of liquidity cascades affecting price, a critical input for risk management and hedging strategies in the crypto market.