Bitcoin Price Surpasses $65K Triggering Major Short Liquidations, Data Reveals

COINOTAG news, on September 26, highlighted by Coinglass data, indicates significant market movements for Bitcoin. Should Bitcoin surge past $65,000, the cumulative short order liquidation strength on mainstream CEX platforms is projected to hit $296 million. Conversely, a decline below $62,000 would see the cumulative long order liquidation strength escalate to $393 million. It is essential to note that the liquidation chart does not provide precise details about the number or value of contracts to be liquidated. Instead, it illustrates the relative importance of each liquidation cluster compared to its adjacent clusters, thereby indicating market sensitivity. A prominent “liquidation column” signifies that the underlying price is likely to experience more significant volatility when it intersects this level.