Gate News reports that on March 20, according to Coinglass data, if Bitcoin breaks above $72,000, the total liquidation strength of major centralized exchanges (CEX) long positions will reach $590 million. Conversely, if Bitcoin falls below $70,000, the total liquidation strength of major CEX short positions will reach $275 million.
It is important to note that the liquidation chart does not display the exact number of contracts pending liquidation or the precise value of contracts being liquidated. Instead, it shows the relative importance (i.e., strength) of each cluster of liquidations near each other. The chart reflects how the market is affected when the underlying price reaches a certain level. Higher liquidation bars indicate that when the price reaches that level, the market will respond more strongly due to liquidity waves.
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