If Bitcoin drops below $120,000, the mainstream CEX long liquidation volume will reach $1.569 billion

BlockBeats News, August 14, Bitcoin continued to fall in the afternoon, now priced at $121,625, a 1.44% drop in nearly 4 hours.

According to Coinglass data, if Bitcoin falls below $120,000, the cumulative long liquidation strength of mainstream CEXs will reach $1.569 billion.

On the contrary, if Bitcoin rises above $123,000, the cumulative short liquidation strength of mainstream CEXs will reach $977 million.

BlockBeats Note: The liquidation chart does not show the exact number of contracts to be liquidated, or the exact value of the liquidated contracts. The bars on the liquidation chart actually show the importance of each liquidation cluster in relation to adjacent liquidation clusters, i.e., strength.

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