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Bitcoin Below $65K Could Trigger $743 Million in Long Liquidations on Major CEXs
As of March 29, according to Coinglass data, if Bitcoin falls below $65,000, cumulative long liquidations on major centralized exchanges (CEXs) could reach $743 million. Conversely, if Bitcoin breaks above $68,000, cumulative short liquidations on major CEXs could reach $621 million. BlockBeats Note: Liquidation charts do not display the precise number of contracts awaiting liquidation or the exact value of liquidated contracts. The bars on the liquidation chart actually represent the importance, or strength, of each liquidation cluster relative to its neighboring clusters. Therefore, the liquidation chart shows the extent to which the price of an asset will be affected when it reaches a certain level. Taller ‘liquidation bars’ indicate a stronger reaction due to a wave of liquidity once the price reaches that level.