If Bitcoin breaks through $69,000, the total liquidation strength of mainstream CEX short positions will reach 1.711 billion

On October 16, according to Coinglass data, if Bitcoin breaks through $69,000, the total liquidation strength of mainstream CEX short positions will reach $1.711 billion;

Conversely, if Bitcoin falls below $65,000, the total liquidation strength of mainstream CEX long positions will reach $1.935 billion.

BlockBeats note: The liquidation chart does not show the exact number of contracts pending for liquidation or the precise value of contracts being liquidated. The bars on the chart actually represent the importance of each liquidation cluster relative to nearby clusters - that is their strength.

Therefore, what a liquidation chart shows is how much impact there would be when an underlying price reaches a certain position. A higher "liquidation bar" indicates that once prices hit this level it could trigger more intense reactions due to liquidity waves.