Bitcoin Faces $829 Million Long Liquidation Risk if Price Drops Below $116,000 Amid Whale Sell-Off

On July 15, Bitcoin experienced a notable decline to the $117,000 level, primarily driven by a significant sale from a long-standing whale investor. Data from Coinglass highlights that a drop below the $116,000 threshold could trigger a substantial long liquidation event, with cumulative exposure on major centralized exchanges (CEXs) reaching approximately $829 million. Conversely, a recovery above $118,000 would likely result in a comparatively modest short liquidation totaling around $159 million. It is important to note that the liquidation chart provided by COINOTAG does not quantify exact contract numbers or liquidation values. Instead, it illustrates the relative intensity of liquidation clusters, indicating the potential market impact at various price points. A higher liquidation intensity bar signals a stronger market reaction due to concentrated liquidity, emphasizing the critical role of these price levels in Bitcoin’s near-term price dynamics.