Bitcoin Price Alert: Key Liquidation Levels Revealed as $60,000 and $61,500 Become Pivotal Points

On October 10, COINOTAG reported insights from Coinglass regarding potential movements in Bitcoin pricing. Should Bitcoin dip below the critical threshold of $60,000, the cumulative liquidation strength of long orders on mainstream centralized exchanges (CEX) is projected to reach an alarming $253 million. In contrast, a breach above $61,500 could trigger a substantial short order liquidation, amassing a cumulative strength of approximately $545 million. It’s important to understand that the liquidation chart does not quantify the precise number of contracts subject to liquidation but illustrates the prominence of various liquidation clusters. Essentially, a larger “liquidation column” indicates a greater potential price reaction as liquidity challenges arise at specific thresholds, making these levels critical for traders monitoring market dynamics.