If Bitcoin drops below $116,000, the mainstream CEX long liquidation pressure will reach $829 million.

BlockBeats News, July 15th, due to the impact of a Bitcoin ancient whale sell-off, Bitcoin fell to the $117,000 range. According to Coinglass data, if Bitcoin falls below $116,000, the cumulative long liquidation intensity of mainstream CEX will reach 829 million.

Conversely, if Bitcoin rises above $118,000, the cumulative short liquidation intensity of mainstream CEX will only be 159 million.

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

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