According to ChainCatcher, data from Coinglass shows that if BTC drops below $71,383, the total liquidation value of long positions on major CEXs will reach $2.389 billion. Conversely, if BTC breaks above $78,438, the total liquidation value of short positions on major CEXs will reach $980 million.
BTC Breaks $71,383, Triggering $2.389B in Long Liquidations on Major CEXs
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Summary
Bitcoin dropped below $71,383, triggering $2.389 billion in long liquidations across major centralized exchanges, according to ChainCatcher. On-chain trading signals indicate that a key support level is under pressure. If BTC rises above $78,438, short liquidations could reach $980 million. Long-term investors are closely monitoring for signs of a potential reversal or continuation in the near term.
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