Bitcoin price fluctuations may trigger major liquidation events

Coinglass data shows that if Bitcoin breaks through $117,000, the cumulative liquidation intensity of short positions on major centralized exchanges (CEX) will reach $594 million. Conversely, if Bitcoin falls below $114,000, the cumulative liquidation intensity of long positions on major centralized exchanges (CEX) will reach $1.002 billion. Bijie.com pointed out that the clearing chart does not show the exact number of contracts to be cleared or the exact value of the contracts that have been cleared. Instead, the bar chart in the chart represents the relative importance of each clearing cluster relative to the neighboring cluster, thus indicating the clearing intensity. Therefore, the chart shows how much impact the target price will be when it reaches a certain level. The higher “liquidation bar” indicates that once the price reaches this level, a stronger reaction will occur due to liquidity fluctuations.