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If BTC exceeds $70.86, there is a $1 billion liquidation risk in open short positions
According to the latest data from Coinglass, if Bitcoin's price breaks above the current $70.86 level and surpasses $70.672, all accumulated short positions on centralized exchanges would have a chance to be cleared, reaching $1.041 billion in liquidations. This situation represents significant upward pressure for investors.
In the opposite direction, if Bitcoin declines below $64.372, open long positions on centralized platforms would similarly face substantial liquidation. In this scenario, an estimated $721 million in liquidation pressure is anticipated.
In other words, within Bitcoin's current price range, there are distinct trigger points for position liquidations in both directions. Traders should monitor these levels carefully and manage their position sizes accordingly.