The post Bitcoin Price Alert: Key Liquidation Levels Revealed as $60,000 and $61,500 Become Pivotal Points appeared on BitcoinEthereumNews.com.

On October 10, COINOTAG reported insights from Coinglass regarding potential movements in Bitcoin pricing. Should Bitcoin dip below the critical threshold of $60,000, the cumulative liquidation strength of long orders on mainstream centralized exchanges (CEX) is projected to reach an alarming $253 million. In contrast, a breach above $61,500 could trigger a substantial short order liquidation, amassing a cumulative strength of approximately $545 million. It’s important to understand that the liquidation chart does not quantify the precise number of contracts subject to liquidation but illustrates the prominence of various liquidation clusters. Essentially, a larger “liquidation column” indicates a greater potential price reaction as liquidity challenges arise at specific thresholds, making these levels critical for traders monitoring market dynamics. Source: https://en.coinotag.com/breakingnews/bitcoin-price-alert-key-liquidation-levels-revealed-as-60000-and-61500-become-pivotal-points/

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Filed under: News - @ October 10, 2024 4:23 am