If Bitcoin drops below $117,000, the mainstream CEX cumulative long liquidation intensity will reach $1.455 billion

BlockBeats News, July 23rd, according to Coinglass data, if Bitcoin falls below $117,000, the cumulative long liquidation strength of mainstream CEXs will reach $1.455 billion.

Conversely, if Bitcoin rebounds above $119,000, the cumulative short liquidation strength of mainstream CEXs will only be $181 million.

BlockBeats Note: The liquidation chart does not show the exact number of contracts to be liquidated or the exact value of the liquidated contracts. The bars on the liquidation chart actually represent the importance of each liquidation cluster relative to neighboring liquidation clusters, i.e., strength.

Therefore, the liquidation chart shows to what extent the price of the underlying asset will be affected when it reaches a certain level. A higher "liquidation bar" indicates that the price will have a stronger reaction due to a liquidity cascade when it reaches that level.