Gate News reports that on March 24, according to Coinglass data, if Bitcoin drops below $68,000, the cumulative long liquidation strength on major centralized exchanges (CEX) will reach $1.068 billion. Conversely, if Bitcoin breaks above $72,000, the cumulative short liquidation strength on major CEXs will reach $1.075 billion.
It is important to note that the liquidation chart does not display the exact number or value of contracts pending liquidation but rather shows the significance of each liquidation cluster relative to nearby clusters, i.e., the intensity. The chart reflects how much the market is affected when the underlying price reaches a certain level. Higher liquidation bars indicate that when the price hits that level, the market will react more strongly due to liquidity waves.
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