Interesting signals in the market are often hidden in the data. Recently, I saw two sets of real-time data about Bitcoin liquidations, combined with the exchange liquidation map, and I want to share some observations with everyone.

First, let's look at the first set of data, with the timestamp frozen at December 23, 2025, 12:09 PM. If Bitcoin falls below $86,000, the cumulative long liquidation intensity on mainstream exchanges will surge to $1.017 billion. Conversely, if it breaks above $90,000, the short liquidation intensity will reach $677 million. These are not precise numbers of contracts to be liquidated, but rather a relative importance of various liquidation clusters presented through a risk heat map—essentially, it's the distribution of high-risk liquidation zones when the price touches these levels.

Looking at the second liquidation map is more intuitive. At the current price of 88106 dollars, the horizontal axis is filled with price scales, and the vertical axis ranges from 27,100 to 175 million, with a macro scale on the right side from 0 to 2.5 billion. The red bars represent long position liquidations, while the blue bars represent short position liquidations. Different colors correspond to the data from mainstream exchanges. The peaks and valleys are particularly obvious—around 86,000, the red bars rise sharply, and around 90,000, the blue bars elevate, creating a strong visual impact.

Essentially, the clearing intensity reflects the lifeline of leveraged funds. When the price approaches critical levels, a large number of stop-loss orders are triggered, and liquidity is suddenly pressured. This is why these two price levels are particularly worthy of attention – they are not only technical support and resistance but also concentrated areas of risk for market participants.