Data: If BTC falls below $58,000, the cumulative long liquidation intensity on mainstream CEX will reach $517 million

ChainCatcher news, according to Coinglass data, if Bitcoin falls below $58,000, the cumulative long liquidation intensity on major CEXs will reach $517 million;

Conversely, if Bitcoin rebounds above $60,000, the cumulative short liquidation intensity on major CEXs will reach $665 million.

It is reported that the liquidation chart does not display the exact number of contracts to be liquidated or the exact value of the contracts being liquidated. The bars on the liquidation chart actually show the importance of each liquidation cluster relative to nearby liquidation clusters, that is, the intensity.

Therefore, the liquidation chart demonstrates to what extent the underlying price reaching a certain level will be affected. A higher "liquidation bar" indicates that once the price reaches that level, there will be a stronger reaction due to the liquidity wave.