According to recent data from Coinglass reported by COINOTAG on November 3, the cryptocurrency Bitcoin faces significant liquidation thresholds. If the price dips below $67,000, the cumulative liquidation of long positions across major centralized exchanges (CEX) could amount to a staggering $582 million. Conversely, a breakthrough above $70,000 could trigger a cumulative liquidation of short positions, potentially reaching $838 million.
It’s important to note that the liquidation chart available does not specify exact contract numbers or values intended for liquidation; rather, it reflects the relative strength of each liquidation cluster. This representation indicates how each liquidity zone can influence price movements as Bitcoin approaches these crucial levels. Higher columns on the chart suggest a more pronounced impact on the price due to these upcoming liquidity events.
Source: https://en.coinotag.com/breakingnews/bitcoin-price-alert-anticipated-liquidation-waves-at-67000-and-70000/