BlockBeats reported on June 13, citing Coinglass data, that if Bitcoin breaks above $66,000, cumulative short liquidation intensity across mainstream centralized exchanges would reach $915 million. In the opposite direction, if Bitcoin drops below $62,000, cumulative long liquidation intensity on mainstream CEXs would reach $900 million.
Liquidation charts show intensity, not exact contract totals
BlockBeats noted that a liquidation chart does not display the precise number of contracts waiting to be liquidated, nor does it show the exact value of contracts that will be liquidated. The bars on the chart represent the relative importance of each liquidation cluster compared with nearby clusters, which is described as liquidation intensity.
As a result, the chart is used to show how strongly the underlying asset may be affected when its price reaches a given level. A higher liquidation bar indicates that once price reaches that area, the reaction caused by a liquidity wave would be stronger.