On September 30, COINOTAG reported, utilizing Coinglass data, that if Bitcoin tumbles beneath $64,000, the cumulative long order liquidation strength for mainstream Central Exchanges (CEX) will touch a significant $445 million. Conversely, should Bitcoin surge past $66,000, the cumulative short order liquidation strength is projected to reach an impressive $477 million. It’s essential to note that the liquidation chart does not precisely reflect the number of contracts or their exact monetary values. Instead, the columns on this chart emphasize the relative prominence of each liquidation cluster. This metric essentially illustrates the degree to which underlying prices are influenced upon reaching specific thresholds. Consequently, a towering “liquidation column” signifies a more robust price reaction to imminent liquidity pressures.
Source: https://en.coinotag.com/breakingnews/bitcoin-price-volatility-alert-potential-445m-long-liquidation-below-64k-and-477m-short-liquidation-above-66k/