Bitcoin Price Surge: Potential $290 Million Short Liquidation if It Breaks $97,000

According to recent data from Coinglass, Bitcoin is poised at a critical juncture as it approaches the $97,000 mark. A breakthrough beyond this threshold could trigger a staggering $290 million in cumulative short liquidations across major centralized exchanges (CEXs). Conversely, if Bitcoin’s price dips below $93,000, we may see a significant uptick in long liquidations, amounting to $182 million. It is important to note that the associated liquidation chart reflects the relative significance of various liquidation clusters, not the precise number of contracts at risk. Thus, the liquidations should be interpreted in the context of market volatility and liquidity events. High liquidation intensity levels suggest heightened market sensitivity, implying that price reactions could be amplified as Bitcoin approaches these critical levels.