The cryptocurrency market is closely watching Bitcoin’s price movements, particularly the critical threshold of $120,000. Should Bitcoin fall below this level, it is anticipated that the long liquidation pressure from mainstream centralized exchanges (CEX) could surge to an astonishing $957 million. This potential scenario highlights the significant impact that price fluctuations can have on the market, especially in terms of liquidations. Liquidation occurs when positions are forcibly closed by exchanges to prevent further losses, and a drop in Bitcoin’s price could trigger a wave of such actions. Traders and investors alike are advised to remain vigilant as these developments unfold, as they could lead to increased volatility in the cryptocurrency market.
