Bitcoin Price Drop Below $116,000 Could Trigger $677 Million Long Order Liquidations on Major CEXs

The cryptocurrency market faces significant pressure as Bitcoin’s price approaches the critical $116,000 threshold. Should BTC dip below this level, the aggregate long order liquidation across major centralized exchanges (CEX) is projected to escalate sharply, potentially reaching a staggering $677 million. This liquidation surge underscores the heightened risk exposure among leveraged traders and highlights the sensitivity of market participants to price fluctuations at key support zones. Market analysts emphasize the importance of monitoring these liquidation metrics as they serve as vital indicators of market sentiment and potential volatility. Investors are advised to exercise caution and consider risk management strategies in light of these developments, which could influence broader crypto asset valuations and trading dynamics in the near term.