The leading cryptocurrency Bitcoin (BTC) started the new week on the rise, with the price rising above $65,000.
As investors try to predict which direction BTC will move, Bitcoin’s price movements are set to trigger major liquidation events on mainstream cryptocurrency exchanges (CEX), according to the latest data from cryptocurrency tracking platform Coinglass.
“According to Coinglass’s Bitcoin Exchange Liquidation Map, $109 million worth of long positions will be liquidated if Bitcoin falls below $64,000.
In contrast, $213 million worth of BTC short positions on CEXs will be liquidated if Bitcoin rises above $66,000.”
According to current data, in the last 24 hours, $193.1 million worth of leveraged transactions were liquid, while $60.8 million worth of long positions and $132.3 million worth of short positions were liquid.
Again, while 56,362 traders were liquidated in the last 24 hours, the largest liquidation occurred in the BTC/USDT transaction on OKX.
*This is not investment advice.
