Bitcoin Liquidation Alert: Coinglass Shows $898M Shorts at $124K and $1.106B Longs at $121K on Major CEXs

COINOTAG reported on October 4 that, per Coinglass data, a breach of Bitcoin above $124,000 would correspond to cumulative short liquidation intensity of approximately $898 million across mainstream CEX venues, whereas a decline below $121,000 would imply cumulative long liquidation intensity near $1.106 billion. The source clarifies that the liquidation chart does not display exact contract counts or notional values; instead, the bars represent the relative liquidation intensity of each price cluster versus its neighbors. Practically, a taller liquidation bar signals a more pronounced market reaction driven by a potential liquidity cascade when that price level is reached, informing risk-management and order-placement decisions for institutional and professional traders.