ChainCatcher reported, citing Coinglass data, that BTC is facing two notable liquidation-intensity levels across major centralized exchanges. According to the data, if BTC falls below $60,258, cumulative long liquidation intensity on major CEXs will reach $1.469 billion.
Liquidation intensity levels above and below BTC price
On the opposite side, Coinglass data shows that if BTC breaks above $66,234, cumulative short liquidation intensity on major CEXs will reach $926 million. The two figures correspond to liquidation pressure from leveraged long positions in a downward move and leveraged short positions in an upward move.
Liquidation intensity is commonly used to observe the concentration of leveraged positions around specific price levels. A higher figure indicates a more concentrated liquidation pressure for positions in the relevant direction at that level. The data in this report reflects only the cumulative long and short liquidation intensity tracked by Coinglass across major CEXs at the stated BTC price levels.