BlockBeats News, February 10 — According to Coinglass data, if Bitcoin falls below $66,000, the total liquidation strength of long positions on major centralized exchanges (CEX) will reach 538 million.
Conversely, if Bitcoin breaks above $70,000, the total liquidation strength of short positions on major CEXs will reach 449 million.
BlockBeats Note: The liquidation chart does not display the exact number of contracts pending liquidation or the precise value of contracts being liquidated. The bars on the liquidation chart represent the relative importance of each liquidation cluster compared to nearby clusters—that is, the intensity.
Therefore, the liquidation chart shows how much the price of the underlying asset will be affected when it reaches a certain level. Higher “liquidation bars” indicate that once the price reaches that point, there will be a stronger reaction due to liquidity waves.
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