If Bitcoin drops below $118,000, the cumulative long liquidation pressure on major CEXs will reach $1.55 billion

BlockBeats News, October 3rd, according to Coinglass data, if Bitcoin falls below $118,000, the cumulative long liquidation intensity on major CEXs will reach $1.555 billion.

Conversely, if Bitcoin breaks above $122,000, the cumulative short liquidation intensity on major CEXs will reach $1.083 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 neighboring liquidation clusters, i.e., intensity.

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