A surge in Bitcoin’s price could result in significant liquidation events on major centralized exchanges, according to data from BlockBeats. Coinglass analysis shows that if Bitcoin surpasses $118,000, the total value of liquidated short positions on CEX could reach nearly $2.078 billion. It’s crucial to understand that this chart doesn’t precisely track the number of contracts involved or the exact amount of assets liquidated. Instead, the bars visually represent the relative magnitude of each liquidation cluster and their impact. This means a higher ‘liquidation bar’ indicates a greater potential market reaction as a wave of liquidity would be triggered by hitting this price point.