Massive Liquidation in Bitcoin Market: Long and Short Price Levels Revealed
Coinglass, a cryptocurrency data platform, has identified the price levels that could trigger significant liquidation in the Bitcoin market.
According to Coinglass data, if Bitcoin surpasses $69,000, it could lead to a cumulative short order liquidation intensity of $101 million on mainstream centralized exchanges (CEX). On the other hand, if Bitcoin falls below $68,000, the cumulative long order liquidation density on these exchanges could rise to $293 million.
It’s important to note that the liquidation table doesn’t provide the exact number or value of contracts to be liquidated. Instead, it indicates the relative importance of each liquidation cluster compared to neighboring clusters and highlights the intensity of potential price moves. A higher liquidation bar suggests that the market is more likely to react strongly to a liquidation wave at that price level.
In the past hours, Coinglass liquidation data for the entire cryptocurrency market shows the following:
– 1-Hour Data: $4.62 million liquidated, including $3.94 million worth of long orders and $680,000 worth of short orders.
– 4-Hour Data: $9.21 million liquidated, including $6.32 million worth of long orders and $2.89 million worth of short orders.
– 12-Hour Data: $26.29 million liquidated, including $18.62 million worth of long orders and $7.67 million worth of short orders.
– 24-Hour Data: $60.59 million liquidated, including $31.31 million long and $29.28 million short.
Please note that this information should not be considered as investment advice.
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