Bitcoin Price Alert: $116K and $119K Liquidation Levels Could Trigger Over $2 Billion in Market Reactions

On August 16th, COINOTAG reported data from Coinglass indicating significant liquidation thresholds for Bitcoin. Should Bitcoin dip below $116,000, a staggering $1.041 billion worth of cumulative long liquidations across major centralized exchanges (CEXs) could occur. Conversely, if Bitcoin were to exceed $119,000, the cumulative short liquidations may reach approximately $1.014 billion. It is essential to note that the liquidation chart provides insights not into the exact volume of contracts under liquidation, but rather illustrates the relative intensity of these liquidation clusters. The height of the bars on the chart signifies the potential impact on price dynamics when approaching these critical levels. Consequently, heightened liquidation intensity at certain price points suggests a pronounced market reaction, emphasizing the pivotal role of market liquidity in crypto trading.