According to recent data from Coinglass, Bitcoin is currently navigating critical liquidity levels. As of October 13, a decline below $61,000 could activate a cumulative liquidation strength of $653 million on prominent centralized exchanges (CEX). Conversely, should the price propel past $64,000, the cumulative short order liquidation strength may surge to $848 million. This information illustrates the potential volatility in Bitcoin‘s price trajectory.
The liquidation chart provides insight into these dynamics but does not disclose the exact volume of contracts at risk. Instead, the chart’s columns reflect the relative strength of liquidation clusters, highlighting their significance within the broader market context. Heightened columns signify greater market responsiveness to impending liquidity waves, suggesting that traders should prepare for potential shifts in Bitcoin prices as these levels are approached.
Source: https://en.coinotag.com/breakingnews/bitcoin-price-predictions-liquidation-levels-rise-as-btc-faces-key-61k-and-64k-resistance/