Bitcoin Price Surge: $430M Short Liquidation Looms if BTC Reaches $98K

On February 24th, COINOTAG News reported intriguing insights derived from Coinglass data indicating significant levels of liquidation risk in the cryptocurrency market. Should Bitcoin surpass the pivotal threshold of $98,000, the total short liquidation intensity on major centralized exchanges (CEXs) could spike to an impressive $430 million. This scenario highlights the volatility inherent in digital asset trading.

Conversely, if Bitcoin dips below the $94,000 mark, it could trigger a cumulative long liquidation intensity of approximately $317 million across major exchanges. It is important to note that the liquidation chart does not provide an exact representation of the contracts awaiting liquidation. Instead, it illustrates the relative significance of each liquidation cluster, emphasizing the potential market impact once these price levels are reached. Higher liquidation bars denote a pronounced market response, illustrating the cascading effects on liquidity and price movements in the event of significant trading activity.