If Bitcoin falls below $117,000, the cumulative long liquidation intensity on mainstream CEX will reach $591 million

ChainCatcher news, according to Coinglass data, if Bitcoin falls below $117,000, the cumulative long liquidation intensity on major CEXs will reach $591 million. Conversely, if Bitcoin breaks above $120,000, the cumulative short liquidation intensity on major CEXs will only be $599 million.

The liquidation chart does not show the exact number of contracts to be liquidated or the exact value of contracts being liquidated. The bars on the liquidation chart actually represent the significance of each liquidation cluster relative to nearby liquidation clusters, i.e., intensity. Therefore, the liquidation chart illustrates to what extent the underlying price reaching a certain position will be affected. A higher "liquidation bar" indicates that once the price reaches that level, there will be a stronger reaction due to liquidity waves.