ChainCatcher reported, citing Coinglass data, that if BTC breaks above $65,864, cumulative short liquidation intensity across mainstream centralized exchanges, or CEXs, will reach $2.093 billion. The figure describes the level of concentrated liquidation pressure on short positions when the BTC price reaches the specified level.
Different liquidation intensity levels above and below price
The same Coinglass data also shows that if BTC moves in the opposite direction and falls below $59,834, cumulative long liquidation intensity across mainstream CEXs will reach $704 million. Under this data set, the liquidation intensity linked to short positions above $65,864 is higher than the liquidation intensity linked to long positions below $59,834.
Liquidation intensity data is commonly used to show where leveraged contract positions are concentrated at different price levels. It is not the same as the amount of liquidations that has already occurred. In this ChainCatcher item, the Coinglass figures compare BTC-related long and short liquidation intensity on mainstream CEXs under two stated price conditions: $65,864 on the upside and $59,834 on the downside.