BTC at $71,383 or $78,438 Could Trigger Billions in Liquidations on Major CEXs

Bitcoin price levels of $71,383 and $78,438 are tied to large-scale derivatives liquidations on major centralized exchanges, Coinglass data cited by ChainCatcher show. If BTC falls below $71,383, long positions on major CEXs face total liquidations worth $2.389 billion. A move above $78,438 would expose short positions to $980 million in liquidations.