According to recent reports by COINOTAG on October 6, data from Coinglass indicates significant pressure points for Bitcoin around the $63,000 and $61,000 thresholds. A breakthrough above $63,000 could trigger a cumulative short order liquidation exceeding $155 million on major centralized exchanges (CEX). Conversely, a decline below $61,000 could activate a long order liquidation of approximately $158 million. It is essential to note that the liquidation chart does not provide exact contract numbers or values. Instead, it highlights the relative strength of liquidation clusters, indicating the potential market impact at critical price levels. As such, movements near these pivotal points could lead to substantial volatility, driven by the liquidity dynamics illustrated in the chart. Market participants are advised to remain vigilant as these thresholds could lead to pronounced price reactions.
Source: https://en.coinotag.com/breakingnews/bitcoins-key-liquidation-levels-can-btc-break-63000-or-fall-below-61000/