Gate News reports that on March 8, according to Coinglass data, if Bitcoin drops below $66,000, the cumulative long liquidation strength on major centralized exchanges (CEX) will reach $514 million. Conversely, if Bitcoin breaks above $69,000, the cumulative short liquidation strength on major CEXs will reach $794 million.
It should be noted that the liquidation chart does not display the exact number of contracts pending liquidation or the value of contracts being liquidated. The bar chart on the liquidation graph shows the relative importance of each liquidation cluster compared to nearby clusters, i.e., the liquidation strength. Therefore, 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 react more strongly due to liquidity waves.
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