Bitcoin Price Alert: Key Liquidation Levels at $84,000 and $86,000 to Watch
BTC/USDT
$17,366,629,629.18
$71,554.95 / $68,531.50
Change: $3,023.45 (4.41%)
-0.0023%
Shorts pay
According to COINOTAG News, emerging data from Coinglass highlights a pivotal moment for Bitcoin. If the cryptocurrency dips below $84,000, it is projected that cumulative long liquidations across major Centralized Exchanges (CEXs) could soar to an alarming $8.62 billion. Conversely, a breakthrough above $86,000 could trigger cumulative short liquidations amounting to $6.65 billion on these platforms.
It is crucial to note that the liquidation chart provided does not specify the exact number of contracts subject to liquidation; rather, it illustrates the relative intensity of liquidation clusters. The significance of each liquidation level is highlighted by the “liquidation bars,” which indicate potential market reactions as the price approaches these thresholds. A heightened liquidation intensity suggests that a liquidity cascade could ensue, exacerbating price movements as Bitcoin encounters key resistance or support levels.