Bitcoin Price Surge: Key Levels to Watch as $79,000 Break Could Trigger $597 Million in Short Liquidations

COINOTAG News reports that as of April 9th, insights from Coinglass indicate a pivotal moment for Bitcoin. Should it breach the significant resistance level of $79,000, the cumulative short liquidation across mainstream centralized exchanges (CEX) could surge to $597 million. Conversely, a decline beneath $75,000 may trigger a liquidation of long positions valued at approximately $135 million. It is crucial to note that the liquidation chart portrays relative importance rather than precise contract numbers or values. The graphical representation highlights various liquidity clusters, with taller bars signaling a stronger market reaction when targeted price thresholds are hit. Essentially, a pronounced “liquidation bar” suggests that the asset price could face intense volatility as it nears these critical levels, potentially igniting a liquidity cascade that amplifies market movements.