According to recent data from Coinglass, Bitcoin’s price action is poised for significant market dynamics. As reported by COINOTAG News on April 3rd, a rebound above $85,000 could trigger a cumulative short liquidation exceeding $1.287 billion on major centralized exchanges (CEX). Conversely, if Bitcoin dips below the $82,000 threshold, the cumulative long liquidations could reach $0.287 billion.
It’s crucial to note that the liquidation chart provides insights into market sentiment rather than depicting the precise volume of contracts poised for liquidation. The visual representation highlights the relative significance of various liquidation clusters, thereby determining the potential strength of market reactions as the asset approaches critical price levels. A taller liquidation bar signifies greater potential volatility and the likelihood of notable price adjustments in the event of reaching those targets.