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It reported that if Bitcoin (BTC) breaks above $93,000, CEX short-position liquidation pressure could increase significantly.
It said that if Bitcoin falls below $90,000, cumulative long-position liquidation intensity could expand to around $637 million.
It added that a liquidation heatmap is a reference indicator used to gauge the potential for larger liquidity shocks and increased volatility when a certain price is reached.

An analysis suggests that if the price of Bitcoin (BTC) breaks above $93,000, liquidation pressure on short positions at major centralized exchanges (CEXs) could intensify sharply.

According to crypto (digital asset) news outlet BlockBeats on the 12th, CoinGlass, a derivatives data analytics platform, estimates that if Bitcoin trades above $93,000, cumulative short liquidation intensity across major CEXs could reach $352 million (about 510 billion won).

Conversely, if Bitcoin falls below the $90,000 level, cumulative liquidation intensity for long positions could expand to as much as $637 million (about 935.5 billion won). This suggests that a downside break could concentrate relatively greater liquidation pressure on long positions.

A liquidation heatmap is used as a reference indicator to gauge how much market liquidity could be affected when Bitcoin reaches certain price ranges. The higher the liquidation intensity at a given level, the more likely liquidity shocks could grow and volatility could rise when that price is reached.

The outlet added, "A liquidation heatmap is not an indicator that represents the exact number of contracts or amount that will actually be liquidated," and noted that "the indicator is focused on showing the relative importance—i.e., intensity—of liquidation clusters formed at each price range."