The post Bitcoin Price Alert: Key Liquidation Levels at $97,000 and $93,000 Could Trigger Major Market Reactions appeared on BitcoinEthereumNews.com.

As of January 2nd, a recent analysis from COINOTAG highlights significant thresholds for Bitcoin that could trigger considerable market movements. Data from Coinglass indicates that if Bitcoin surpasses the critical level of $97,000, we could witness a cumulative short liquidation intensity of approximately $726 million across major centralized exchanges (CEXs). In contrast, a decline below $93,000 may lead to an equally alarming situation, with long liquidations potentially reaching $728 million. It is important to note that the liquidation chart serves to illustrate the *relative* intensity of liquidation clusters, rather than providing exact figures for contracts liquidated. Essentially, the height of each bar on the chart signifies the potential market response, indicating that larger liquidation bars are associated with more significant reactions as the price approaches these levels. Investors should closely monitor these benchmarks to gauge market dynamics effectively. Source: https://en.coinotag.com/breakingnews/bitcoin-price-alert-key-liquidation-levels-at-97000-and-93000-could-trigger-major-market-reactions/

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Filed under: News - @ January 2, 2025 2:10 am