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BTC falling below $116,000 may trigger the liquidation of $2.078 billion long orders.
On August 15, according to data from the data platform, if Bitcoin falls below $116,000, the cumulative long order liquidation intensity on mainstream trading platforms will reach $2.078 billion.
On the contrary, if Bitcoin breaks through 120,000 USD, the cumulative short order liquidation intensity on mainstream trading platforms will reach 938 million.
Note: The liquidation chart does not display the exact number of contracts pending liquidation or the exact value of contracts being liquidated. The bars on the liquidation chart actually show the importance, or strength, of each liquidation cluster relative to nearby liquidation clusters.
Therefore, the liquidation chart shows to what extent the underlying price will be affected when it reaches a certain position. A higher "liquidation pillar" indicates that once the price reaches that point, there will be a stronger reaction due to the wave of liquidity.