According to Coinglass data reported by COINOTAG on September 17, market movements in Bitcoin show critical liquidations poised at significant price thresholds. Should Bitcoin surge past $60,000, the cumulative short order liquidation on mainstream centralized exchanges (CEX) could hit approximately $951 million. Conversely, if Bitcoin declines below $57,000, cumulative long order liquidation strength is expected to reach around $925 million. It’s important to note that the liquidation chart doesn’t provide the exact number or value of contracts; instead, it highlights the impact of each liquidation cluster relative to its surroundings. This signifies how much the price could react when reaching specific levels. A taller “liquidation column” suggests a more substantial price response to the liquidity wave, underscoring the volatility at those critical price points.
Source: https://en.coinotag.com/breakingnews/bitcoin-price-surge-above-60000-or-drop-below-57000-triggers-major-liquidation-movements-report/