The post Bitcoin Price Movements: Potential Liquidation Impact at $65K and $61K, Reports Coinglass appeared on BitcoinEthereumNews.com.

On September 24, COINOTAG highlighted new insights from Coinglass data regarding Bitcoin’s potential price movements. Should Bitcoin surpass the $65,000 mark, the cumulative short order liquidation power across mainstream CEX platforms is projected to hit $1.597 billion. In contrast, a dip below $61,000 would increase the cumulative long order liquidation force to $1.136 billion. Notably, the liquidation chart offers a comparative display of each liquidation cluster’s significance rather than specifying the exact quantity or value of contracts. This chart essentially illustrates the projected intensity of market reactions at particular price points. A more pronounced “liquidation column” indicates a stronger market response to subsequent liquidity movements, emphasizing the potential price volatility. Source: https://en.coinotag.com/breakingnews/bitcoin-price-movements-potential-liquidation-impact-at-65k-and-61k-reports-coinglass/

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Filed under: News - @ September 24, 2024 5:14 am