The post Bitcoin’s Liquidation Thresholds: Eyeing $94,000 for $7.72 Billion Surge or $91,000 for $6.25 Billion Drop appeared on BitcoinEthereumNews.com.

According to data from Coinglass, notable movements in the price of Bitcoin could trigger significant liquidations across mainstream centralized exchanges (CEX). As of November 27th, should Bitcoin breach the resistance level of $94,000, it may induce a cumulative short liquidation surge amounting to approximately $7.72 billion. Conversely, a decline below $91,000 could catalyze a cumulative long liquidation impact of about $6.25 billion. It is important to note that the liquidation charts presented do not disclose the exact quantity of contracts poised for liquidation, nor do they reveal the precise value of these contracts. Instead, the graphical representation prioritizes the significance of each liquidation cluster in relation to surrounding clusters, illustrating the liquidation intensity. Therefore, the liquidity chart serves as a critical indicator, signaling how the price of Bitcoin could react at pivotal levels and underscoring the potential for a liquidity cascade should these thresholds be reached. Source: https://en.coinotag.com/breakingnews/bitcoins-liquidation-thresholds-eyeing-94000-for-7-72-billion-surge-or-91000-for-6-25-billion-drop/

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Filed under: News - @ November 27, 2024 6:20 am