Short Liquidation Key Level: $62,609
According to Coinglass data, if Bitcoin price breaks above $62,609, the cumulative short liquidation intensity on major centralized exchanges (CEXs) will reach $1.805 billion. This means that once the price breaks through this resistance level, a significant number of short leveraged positions will be forcibly liquidated, potentially further driving the price upward and creating a short squeeze effect.
Long Liquidation Key Level: $56,657
Conversely, if BTC falls below $56,657, the cumulative long liquidation intensity on major CEXs will reach $1.003 billion. This level serves as an important support below; if breached, cascading long liquidations could accelerate the downtrend. The higher the liquidation intensity, the more violent the chain reaction when the price reaches that point.
Data Source and Interpretation
The data comes from on-chain liquidation monitoring platform Coinglass, covering open interest across major centralized exchanges (e.g., Binance, OKX). Liquidation intensity measures the total notional value of contracts that could be forced to close when the price hits a specific level, reflecting market leverage concentration and potential volatility. Traders can use these key levels for risk management and position adjustments.