According to recent data from Coinglass, as of April 8, the cryptocurrency market is closely monitoring critical price levels for Bitcoin. If Bitcoin successfully breaches the $82,000 threshold, it could trigger a significant short liquidation totaling up to $633 million across major centralized exchanges (CEX). Conversely, should Bitcoin decline below $79,000, we may witness a long liquidation reaching approximately $375 million on these platforms.
It’s important to note that the liquidation chart provided by COINOTAG does not specify the exact number of contracts poised for liquidation, nor does it detail their precise valuation. Instead, the chart illustrates the relative significance of each liquidation cluster in relation to its neighbors, effectively quantifying the intensity of potential market reactions. A pronounced liquidation bar implies a more substantial price movement, emphasizing the critical nature of these price junctures as market participants navigate the volatility inherent in the crypto landscape.