According to BlockBeats, on July 11, data from Coinglass indicated that if Bitcoin breaks through $66,000, the cumulative short-selling intensity on major CEXs will reach $567 million.
Conversely, if Bitcoin falls below $63,000, the cumulative liquidation intensity of long positions on major CEXs will reach $482 million.
BlockBeats Note: The liquidation chart does not show the exact number of contracts pending liquidation, or the exact value of contracts being liquidated. The bars on the liquidation chart actually represent the importance, or strength, of each liquidation cluster relative to its neighboring liquidation clusters.
Therefore, the liquidation chart shows the extent to which the price of an asset is affected when it reaches a certain level. Higher "liquidation bars" indicate that the price will react more strongly due to liquidity surges once it reaches that level.