Bitcoin Liquidation Strength Could Surge Over $1.15 Billion if Price Breaks $119,000 on Major CEXs

According to recent data from Coinglass on July 16, a significant threshold looms for Bitcoin’s price action. Should Bitcoin surpass the $119,000 mark, the cumulative short order liquidation pressure across major centralized exchanges (CEX) is projected to reach approximately $1.156 billion. Conversely, a decline below $116,000 could trigger long order liquidations totaling around $734 million. It is important to note that the liquidation chart provided by COINOTAG does not specify the exact number or value of contracts to be liquidated. Instead, it illustrates the relative strength of liquidation clusters compared to adjacent levels, offering insight into potential market volatility. A taller liquidation bar signals a more pronounced price reaction to liquidity waves when those price points are reached, highlighting critical zones where Bitcoin’s price could experience amplified movements due to liquidation cascades.