Bitcoin's price fluctuations are poised to impact the cryptocurrency market significantly, with potential liquidations exceeding $1 billion. Data from Coinglass indicates that if Bitcoin's price drops below $61,952, long positions on major centralized exchanges (CEXs) could face liquidations totaling $1.216 billion. Conversely, a price surge above $68,392 could lead to $978 million in liquidations of short positions on these platforms.