ChainThink reports that, according to Coinglass data on March 20, if Bitcoin breaks above $72,000, the cumulative liquidation strength of long positions on major CEXs will reach $590 million.
Conversely, if Bitcoin falls below $70,000, the cumulative long liquidation pressure on major CEXs will reach $275 million.
ChainThink Note: The liquidation chart does not display the exact number of contracts pending liquidation or the exact value of liquidated contracts. The bars on the liquidation chart represent the relative importance, or intensity, of each liquidation cluster compared to neighboring clusters.
Therefore, the liquidation chart shows how significantly the price will be affected when it reaches a certain level. Higher "liquidation bars" indicate that the price will trigger a stronger reaction due to a wave of liquidity once it reaches that level.