According to recent data from Coinglass, reported by COINOTAG on September 15, Bitcoin’s price dynamics are poised for significant liquidity movements at critical price levels. Notably, if Bitcoin surpasses the $62,000 threshold, the total liquidation strength for short orders across mainstream cryptocurrency exchanges (CEX) is projected to hit $815 million. Conversely, a dip below $58,000 could trigger long order liquidations amounting to $773 million.
It’s important to highlight that the liquidation chart does not provide exact figures for the number or value of contracts facing liquidation. Instead, it emphasizes the relative significance of each liquidation cluster compared to adjacent ones, known as liquidation strength. A higher “liquidation column” on the chart denotes a more pronounced price impact in response to liquidity events at specific price points.
Source: https://en.coinotag.com/breakingnews/bitcoin-price-movements-potential-815m-short-liquidation-at-62k-and-773m-long-liquidation-at-58k/