ChainCatcher reported, citing Coinglass data, that BTC currently has sizable liquidation intensity levels on both sides of its trading range across mainstream centralized exchanges. The upper trigger level provided by the data is $68,639. If BTC breaks above that price, cumulative short liquidation intensity on mainstream CEXs will reach $1.023 billion.
Long and short liquidation intensity levels are close
On the downside, the trigger level shown by Coinglass is $62,127. If BTC drops below that level, cumulative long liquidation intensity on mainstream CEXs will reach $1.009 billion. The figures indicate that the liquidation intensity associated with short positions above $68,639 and long positions below $62,127 is relatively close in size.
Liquidation intensity is commonly used to observe where leveraged positions are concentrated around specific price levels. The data cited here only describes the cumulative liquidation intensity for BTC long and short positions on mainstream CEXs at the stated price points, and it is not the same as the amount of liquidation that has already occurred.