Bitcoin, 1,000,000,000 dollars of short liquidations if it surpasses 94,000 dollars
Summary
- It reported that if Bitcoin's price surpasses 94,000 dollars, 1,000,000,000 dollars worth of short position liquidations could occur.
- Conversely, if the price falls below 91,000 dollars, the intensity of long position liquidations on major exchanges could reach 641,000,000 dollars.
- Currently, Bitcoin is trading in a volatility zone, and it said that liquidation risk could expand depending on price fluctuations.
Bitcoin (BTC) has entered a period of increased volatility, raising the risk of large-scale liquidations at various price levels.
According to data from CoinGlass on the 4th (local time), if Bitcoin surpasses 94,000 dollars, the cumulative short (short) liquidation intensity on major centralized exchanges (CEX) is estimated to reach 1,000,000,000 dollars. This means that if a strong price rebound occurs, short positions could be liquidated in a chain, causing a short-term surge.
Conversely, if Bitcoin falls below 91,000 dollars, the cumulative liquidation intensity of long positions on major exchanges is shown to reach 641,000,000 dollars. Analysts say that if the support level falls, long position liquidations could occur in a chain, increasing downward pressure.
On that day, Bitcoin was trading at 92,570 dollars on Binance Tether (USDT) market, down 1.4% from the previous day.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
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