BlockBeats reported on June 13, citing Coinglass data, that if Bitcoin breaks above $66,000, the cumulative short liquidation intensity across major centralized exchanges would reach $915 million. In the opposite direction, if Bitcoin falls below $62,000, the cumulative long liquidation intensity across major CEXs would reach $900 million.
BlockBeats added an explanation of how the liquidation chart should be read. The chart does not show the exact number of contracts waiting to be liquidated, nor does it display the exact value of contracts that would be liquidated. Instead, the bars on the chart represent the relative importance of each liquidation cluster compared with nearby clusters, which is described as intensity.
As a result, the liquidation chart is intended to show the degree of impact when the underlying asset’s price reaches a specific level. A higher liquidation bar indicates that, once price reaches that area, the reaction associated with the liquidity wave would be stronger.