COINOTAG reports on October 19 that data from Coinglass indicates critical price thresholds for Bitcoin trading. If Bitcoin surpasses the pivotal mark of $69,000, the total liquidation potential of prevailing short positions on mainstream centralized exchanges (CEX) could climb to a notable $101 million. Conversely, a downturn below $68,000 could trigger the cumulative liquidation strength of long orders, escalating to approximately $293 million. It is essential to note that the liquidation metrics do not specify the exact number of contracts at risk or their precise value. Rather, the data reflects the significance of various liquidation clusters, illustrating relative strength across different price levels. This analysis suggests that stronger liquidation columns correlate with intensified market reactions, highlighting the influence of these price points on overall market dynamics.
Source: https://en.coinotag.com/breakingnews/bitcoin-price-surge-will-breaking-69000-trigger-101-million-in-liquidations/