ChainCatcher reported, citing Coinglass data, that if Bitcoin falls below $60,000, cumulative long liquidation intensity on major centralized exchanges will reach 1.064 billion. Conversely, if Bitcoin rises above $63,000, cumulative short liquidation intensity on major CEXs will reach 1.243 billion. The figures describe the relative concentration of liquidation pressure around different price levels for long and short positions.
The liquidation map measures intensity, not exact contract value
Coinglass’ liquidation map does not show the precise number of contracts waiting to be liquidated, nor does it display the exact value of contracts that would be liquidated. The bars on the map represent the relative importance of each liquidation cluster compared with nearby clusters, which is described as liquidation intensity.
Under this interpretation, the liquidation map indicates the extent to which positions would be affected when the underlying asset reaches a specific price. A higher “liquidation bar” means that, once the price arrives at that level, the reaction caused by the resulting wave of liquidity would be stronger. In the current data set, the $60,000 downside level corresponds to 1.064 billion in long liquidation intensity on major CEXs, while the $63,000 upside level corresponds to 1.243 billion in short liquidation intensity.