The post Bitcoin Price Movement: Potential $1.819 Billion Long Liquidation Below $62,000 According to Coinglass Data appeared on BitcoinEthereumNews.com.

On September 25, as per Coinglass analytics, the current mainstream CEX long order liquidation intensity significantly overshadows that of short orders. Should Bitcoin’s value drop below $62,000, the cumulative liquidation intensity on long orders is projected to hit 1.819 billion. Conversely, if Bitcoin ascends past $66,000, the cumulative short order liquidation intensity is anticipated to reach 1.005 billion. It is crucial to note that the liquidation chart does not specify the precise number or value of contracts to be liquidated. Instead, the chart emphasizes the importance and strength of each liquidation cluster relative to adjacent clusters. Therefore, a towering “liquidation column” on the chart signifies a more pronounced impact on the underlying price as it encounters these liquidity thresholds. This underscores the potential dramatic market movements triggered by these significant liquidation levels. Source: https://en.coinotag.com/breakingnews/bitcoin-price-movement-potential-1-819-billion-long-liquidation-below-62000-according-to-coinglass-data/

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Filed under: News - @ September 25, 2024 6:25 am