Coinglass: Bitcoin Could Trigger $2.127B CEX Long Liquidations at $121,115 — $938M If Below $123,000; $668M Short Risk at $126,790

Coinglass data cited by COINOTAG on October 5 shows conditional exposure: if Bitcoin falls below $123,000, cumulative long liquidation intensity across major CEXs is estimated at $938 million; a drop to $121,115 raises that intensity to about $2.127 billion. Conversely, a rally to $126,790 corresponds to cumulative short liquidation intensity near $668 million.

COINOTAG also notes the liquidation chart represents relative intensity rather than exact contract counts or notional values; higher bars indicate a larger potential market reaction when price reaches specific levels, reflecting the scale of concentrated liquidity and the potential for a liquidity cascade without specifying precise contract volumes.