Bitcoin's price movement is poised to impact major cryptocurrency exchanges significantly. According to Coinglass data, if Bitcoin surpasses the $73,000 mark, it could trigger short position liquidations totaling $482 million across major centralized exchanges (CEXs). Conversely, a drop below $70,000 could lead to $270 million in long position liquidations.
The liquidation data highlights the potential volatility in Bitcoin's price, with the intensity of liquidations indicating the relative impact on the market. The liquidation chart does not specify the exact number of contracts but shows the intensity of liquidation clusters, suggesting that significant price movements could lead to substantial market reactions.
Bitcoin's Potential Surge Above $73,000 Could Trigger $482M in Short Liquidations
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