Coinglass data on October 3 indicates that if Bitcoin breaches $122,000, the cumulative short liquidation intensity across major CEX platforms could reach approximately $1 billion. Conversely, a slide below $120,000 would push cumulative long liquidation intensity to around $258 million, according to available market metrics.
The published liquidation chart represents relative cluster importance rather than exact contract counts or precise notional values. The visual bars reflect the comparative intensity of adjacent liquidation clusters and should be interpreted as proportional stress points in the derivatives order book.
A taller liquidation bar signals a greater likelihood of an amplified price reaction when that price level is tested, driven by concentrated liquidity and squeezed counterparty positions; prudent risk management and active monitoring of order-flow are recommended.