If Bitcoin Falls Below $61,000, Mainstream CEX Cumulative Multi-Order Liquidation Intensity Will Reach $851 Million

Bitget2024/10/08 09:08

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On October 8, according to Coinglass data, if Bitcoin falls below $61,000, the cumulative long liquidation strength of mainstream CEX will reach 851 million;

Conversely, if Bitcoin breaks above $64,000, the cumulative short liquidation strength of mainstream CEX would be 873 million.
Note: The liquidation chart does not show the exact number of contracts to be liquidated, or the exact value of contracts being liquidated. What the bars on the chart show is actually the importance, or strength, of each liquidation cluster relative to the neighboring liquidation clusters.

Thus, the liquidation chart shows how much the underlying price will be affected by reaching a certain position. Higher 'clearing bars' indicate that the price will react more strongly when it arrives because of the liquidity wave.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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