In the latest analysis by COINOTAG, significant liquidations in the crypto market are highlighted, particularly regarding Bitcoin’s price movements. As per data from Coinglass dated December 3rd, Bitcoin faces critical thresholds with implications for long and short positions. Should Bitcoin surpass the pivotal $97,000 mark, the total short liquidation volume across major centralized exchanges (CEX) could escalate to approximately $1.033 billion. Conversely, a dip below $93,000 may lead to long liquidation values reaching about $1.491 billion.
It is essential to note that the liquidation chart employed in the analysis does not provide explicit figures of contracts liquidated or their monetary values. Rather, it illustrates the relative impact of each liquidation segment, thereby indicating how upcoming price movements could intensify market reactions. High liquidation volumes suggest a pronounced likelihood of volatility in Bitcoin’s price as these critical levels are approached.