Data: If Bitcoin breaks through $60,000, the total liquidation strength of mainstream CEX short positions will reach 221 million

According to Coinglass data, if Bitcoin breaks through $60,000, the total liquidation strength of mainstream CEX short positions will reach 221 million. Conversely, if Bitcoin falls below $58,000, the total liquidation strength of mainstream CEX long positions will reach 611 million.

It is reported that the liquidation chart does not show the exact number of contracts to be liquidated or the precise value of contracts being liquidated. The bars on the liquidation chart actually represent the importance of each liquidation cluster relative to nearby clusters - in other words, 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 there will be a stronger reaction due to liquidity waves.