COINOTAG reported on March 28th that according to Coinglass data, a critical threshold exists for Bitcoin as it could face substantial liquidation pressures. Should the price dip below $82,000, cumulative long liquidations on prominent centralized exchanges (CEXs) may reach a staggering $327 million. Conversely, if Bitcoin manages to rally and exceeds $86,000, the pressure from short liquidations could total $241 million.
It is important to note that the liquidation chart provided does not strictly quantify the exact number of contracts set for liquidation or their specific dollar values. Instead, the chart illustrates the relative significance of each liquidation cluster compared to nearby clusters, essentially measuring intensity. The higher the “liquidation bars,” the greater the potential reaction of the market, suggesting that hitting these price levels can initiate a liquidity cascade, significantly impacting trader positions.
Source: https://en.coinotag.com/breakingnews/bitcoin-price-alert-liquidation-intensity-peaks-as-btc-nears-82k-and-86k-thresholds/
