According to recent insights from COINOTAG, as of October 21, analysis from Coinglass reveals critical liquidation levels for Bitcoin. If the price dips below $65,000, the cumulative liquidation of long positions on prominent centralized exchanges (CEX) is projected to reach an alarming $316 million. Conversely, should Bitcoin surge past $69,000, short position liquidations could escalate to approximately $329 million. It is crucial to note that the liquidation chart is not indicative of the specific number of contracts or their associated values to be liquidated; rather, it illustrates the relative strength of liquidation clusters. Each cluster serves to highlight how price movements could be accelerated, with higher columns indicating a more substantial market reaction as liquidity impacts are triggered. Understanding these dynamics is vital for traders navigating volatile cryptocurrency markets.
Source: https://en.coinotag.com/breakingnews/bitcoin-price-alert-major-liquidation-levels-as-65k-and-69k-targets-approached/