ChainCatcher reported, citing Coinglass data, that BTC is approaching two price levels where liquidation intensity on major centralized exchanges is nearly balanced on both sides of the market. On the downside, the data identifies $60,034 as the trigger level. If BTC drops below this price, cumulative long liquidation intensity across major CEXs will reach $1.488 billion.
Liquidation intensity is close on both sides
The same Coinglass dataset places the upside trigger level at $66,264. If BTC breaks above $66,264, cumulative short liquidation intensity on major centralized exchanges will reach $1.479 billion. By the reported amount, the downside long liquidation intensity is $9 million higher than the upside short liquidation intensity.
Liquidation intensity data is used to describe where leveraged long and short positions are concentrated around specific price levels. In this update, Coinglass data shows that BTC has sizable long-side liquidation pressure below $60,034 and sizable short-side liquidation pressure above $66,264, with both figures sitting close to the $1.5 billion level.