Bitcoin's price fluctuations are poised to cause significant liquidations on major cryptocurrency exchanges. Data from Coinglass indicates that if Bitcoin's price drops below $65,864, long positions worth $1.147 billion could be liquidated. Conversely, a price surge above $72,744 would result in the liquidation of $376 million in short positions. These potential liquidations highlight the volatility and risk associated with trading Bitcoin on centralized exchanges.