ChainCatcher reported, citing data from Coinglass, that if BTC breaks above $69,068, the cumulative short liquidation intensity across mainstream centralized exchanges would reach $1.085 billion. The figure refers to the estimated liquidation pressure associated with short positions when the BTC price reaches that specified level.
Two BTC price levels show opposite liquidation pressure
The same Coinglass data also shows the reverse scenario. If BTC falls below $62,858, cumulative long liquidation intensity on mainstream CEXs would reach $928 million. In this structure, the level above $69,068 corresponds to pressure on short positions, while the level below $62,858 corresponds to pressure on long positions.
Liquidation intensity is not the same as the amount of liquidations that has already occurred. It is an indicator based on the relevant price-trigger conditions and the distribution of leveraged positions on exchanges. In this ChainCatcher item, the central data points are the two BTC trigger levels and the corresponding liquidation intensity figures: $1.085 billion for shorts above $69,068 and $928 million for longs below $62,858.