According to data from Coinglass, the cryptocurrency market is poised for significant **price action** surrounding Bitcoin’s **key support** and **resistance levels**. If Bitcoin’s price dips below **$97,000**, analyses suggest a projected cumulative **long liquidation** of **$983 million** across leading **centralized exchanges (CEXs)**. Conversely, should Bitcoin stage a recovery and surpass **$102,000**, approximately **$1.402 billion** in **short liquidations** could occur on these platforms. It is critical to note that the liquidation charts do not specify the precise number of contracts set for liquidation or their exact values. Instead, these charts provide insights into the **liquidation intensity**, reflecting the potential market impact at various price thresholds. Elevated liquidation bars indicate that when Bitcoin hits these levels, the ensuing liquidity cascade could trigger a pronounced reaction in the market, underscoring the importance of monitoring these critical price points.
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