If Bitcoin drops below $117,000, the mainstream CEX long liquidation volume will reach $5.91 billion

BlockBeats News, October 11, according to Coinglass data, if Bitcoin falls below $117,000, the cumulative long liquidation intensity on mainstream CEXs will reach $5.91 billion.

Conversely, if Bitcoin surpasses $120,000, the cumulative short liquidation intensity on mainstream CEXs will only be $5.99 billion.

BlockBeats Note: The liquidation chart does not show the exact number of contracts awaiting liquidation or the exact value of contracts being liquidated. The bars on the liquidation chart actually represent the importance of each liquidation cluster relative to adjacent liquidation clusters, i.e., intensity.

Therefore, the liquidation chart shows to what extent reaching a certain price level will be affected. A higher "liquidation bar" indicates that when the price reaches that level, a more intense reaction will occur due to a liquidity cascade.