Ethereum Liquidation Alert: $2.401B of CEX Longs at Risk Below $4,600 — $1.54B Shorts If Price Tops $4,900 (Coinglass)

COINOTAG reported on August 23 that Coinglass data identifies key thresholds for Ethereum liquidations on mainstream CEXs: a drop below $4,600 corresponds to a cumulative long liquidation intensity of approximately $2.401 billion, while a rise above $4,900 maps to a cumulative short liquidation intensity near $1.540 billion. The exchange-level chart conveys relative cluster liquidation intensity rather than exact contract counts or nominal contract values; its bars illustrate the expected magnitude of price impact from a liquidity cascade when specific price levels are breached. Market participants therefore should interpret these metrics as indicators of potential price reaction scope, not as precise counts of positions pending liquidation.