If Bitcoin falls below $68,000, the total liquidation strength of mainstream CEX long positions will reach $580 million

BlockBeats news, on November 4th, according to Coinglass data, if Bitcoin falls below $68,000, the cumulative liquidation strength of long positions in mainstream CEX will reach 580 million; 

Conversely, if Bitcoin breaks through $70,000, the cumulative liquidation strength of short positions in mainstream CEX will reach 873 million. 

BlockBeats note: The liquidation chart does not show the exact number of contracts pending for liquidation or the precise value of contracts that have been liquidated. The bars on the liquidation chart actually represent the importance of each liquidation cluster relative to nearby clusters - that is their strength.

Therefore, what a liquidation chart shows is how much impact it would have when an underlying price reaches a certain position. A higher "liquidating column" indicates that once prices hit this level there will be a stronger reaction due to liquidity waves.