According to BlockBeats and data from Coinglass, Bitcoin's price fluctuations could trigger significant liquidations in the cryptocurrency market. On October 6, it was reported that if Bitcoin breaks through the $63,000 mark, the cumulative short order liquidations on mainstream centralized exchanges (CEX) could reach as high as $155 million.
Conversely, if Bitcoin falls below $61,000, the cumulative long order liquidations could climb to $158 million. This stark contrast highlights the potential volatility surrounding Bitcoin's price movements.
BlockBeats notes that the liquidation chart illustrates the impact on market prices when specific positions are reached. A higher “liquidation column” indicates a stronger market reaction as the price approaches these critical levels, underscoring the heightened risks for traders in the current environment.
