"Bitcoin: Short positions worth about 1 trillion won to be liquidated if it breaks above $93,000"
Summary
- It reported that if Bitcoin (BTC) surpasses $93,000, approximately 1 trillion won worth of short positions on major exchanges would enter liquidation zones.
- Conversely, it analyzed that if Bitcoin falls below $90,000, approximately $340,000,000 worth of long positions could be liquidated.
- The outlet said that higher "liquidation intensity" could lead to larger liquidity waves in that price range.
Bitcoin (BTC) is expected to see approximately $721,000,000 (about 1 trillion won) of short positions enter liquidation zones on major exchanges if it breaks above $93,000.
On the 8th, according to crypto-focused media BlockBeats, Coinglass estimated that if Bitcoin breaks above $93,000, the cumulative short liquidation intensity on major centralized exchanges (CEX) would reach about $721,000,000.
Conversely, if Bitcoin falls below $90,000, long positions would enter liquidation zones, with cumulative liquidation intensity estimated at about $340,000,000.
The outlet said, "The liquidation chart does not show the exact pending liquidation volume but visualizes the relative impact, i.e., the intensity, that each price level would have on the market," adding, "High liquidation intensity may mean liquidity waves could be larger when that price is reached."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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