Recent data suggests that Bitcoin's price could lead to substantial liquidations, with a break above $120,000 triggering $1.285 billion in shorts and a drop below $116,000 causing $1.946 billion in longs.
According to Coinglass data, Bitcoin could trigger $1.285 billion in cumulative short liquidations if it breaks above $120,000. Conversely, a drop below $116,000 may lead to $1.946 billion in liquidations of long positions. The liquidation chart emphasizes potential liquidations based on price movements, highlighting the impact on market liquidity.