On February 17th, COINOTAG reported significant data from Coinglass regarding the current dynamics in the Bitcoin market. If the price dips below $95,000, cumulative long liquidations across leading centralized exchanges (CEXs) could surge to approximately $749 million. Conversely, should Bitcoin exceed $98,000, the cumulative short liquidations on these platforms may reach $672 million. It’s essential to note that the liquidation metrics presented do not reflect the precise volume of contracts to be liquidated but rather the intensity of liquidation clusters. This means that the higher liquidated bars indicate how significantly the market price is likely to react upon reaching these key levels. A pronounced liquidation bar signals a potential liquidity cascade that could amplify price fluctuations in the cryptocurrency sector.
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