According to the latest data from Coinglass, the clearing intensity at major global cryptocurrency exchanges is closely related to the trend of Bitcoin prices. Specifically, when Bitcoin's price drops to $63,000, it is estimated that the cumulative clearing intensity for long positions at major exchanges will reach $560 million. This indicates that traders holding significant long positions in Bitcoin face potential loss risks, and once the clearing mechanism is triggered, market pressures will be released. Conversely, if Bitcoin's price breaks through the key level of $65,500, the cumulative clearing intensity for short positions at major exchanges is expected to soar to $660 million. This dynamic reflects how changes in investors' expectations of Bitcoin's value directly affect the balance between long and short positions in the market, leading to significant changes in clearing intensity.