On October 2nd, Coinglass data indicates that a break above $120,000 for Bitcoin would concentrate about $7.37 billion of cumulative short liquidation strength across mainstream CEXs, while a drop below $117,000 would align roughly $5.63 billion of cumulative long liquidation strength.
The published liquidation chart displays the relative importance of liquidation clusters rather than precise contract counts or nominal contract values, meaning bar heights represent comparative strength between adjacent clusters rather than exact liquidation volumes.
Consequently, a taller liquidation bar denotes a larger potential market reaction if that level is tested, reflecting concentration risk and the mechanics of a possible liquidity cascade; these metrics should be used as risk indicators rather than definitive price forecasts.