The post Bitcoin Price Surge to $65K May Trigger $254 Million Short Liquidations: Coinglass Data appeared on BitcoinEthereumNews.com.

COINOTAG recently reported that Coinglass data indicates pivotal levels for Bitcoin’s market dynamics. Should Bitcoin surge past $65,000, the cumulative short order liquidation force across major centralized exchanges (CEXs) is projected to be approximately $254 million. On the contrary, a drop below $60,000 would lead to a significant spike in long order liquidation strength, reaching up to $755 million. It is crucial to note that the liquidation charts presented do not detail the exact number or value of contracts subject to liquidation. Instead, the columns on these charts represent the relative importance of each liquidation cluster, highlighting the intensity of market reactions. Essentially, a higher “liquidation column” implies a stronger price reaction to changes in liquidity waves at those specific points. Source: https://en.coinotag.com/breakingnews/bitcoin-price-surge-to-65k-may-trigger-254-million-short-liquidations-coinglass-data/

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Filed under: News - @ September 20, 2024 4:24 am