Bitcoin’s Critical Threshold: Breaking $89,000 Could Trigger $316 Million in Short Liquidations

On March 24th, COINOTAG reported notable insights from Coinglass regarding the Bitcoin market. If Bitcoin surpasses the significant threshold of $89,000, it is projected that the cumulative short liquidation across major centralized exchanges (CEX) could soar to approximately $316 million. This scenario underscores a critical point for traders, as liquidations can often trigger substantial market volatility. Conversely, should Bitcoin dip below $85,000, a cumulative long liquidation event of around $207 million could unfold. It’s crucial to note that the provided liquidation chart illustrates relative intensity, rather than explicit contract values. This means that the chart effectively indicates how pronounced market movements might be at varying price levels. A heightened liquidation bar implies that any price movement approaching these junctures could incite a significant liquidity cascade, further impacting prices seemingly.