Bitcoin Price Alert: What Happens If BTC Breaks $97,000 or Falls Below $94,000?

According to recent data from Coinglass reported by COINOTAG on November 21st, Bitcoin is approaching critical levels that could trigger significant market reactions. Should the cryptocurrency surpass the psychological threshold of $97,000, data indicates that the total short liquidation value across major centralized exchanges (CEX) could soar to approximately $1.075 billion. Conversely, a decline below $94,000 may spark a surge in long liquidations to about $1.148 billion.

It is essential to note that the liquidation chart presents a relative measure of liquidation strength, signifying how these positions may impact Bitcoin price movements. The bars illustrate the intensity of price reactions at pivotal points, where a taller bar indicates a potential for more pronounced fluctuations due to liquidity cascades. Understanding these dynamics is critical for investors aiming to navigate the volatile landscape of cryptocurrency markets.