In the cryptocurrency market, Bitcoin, as the leader, has a significant impact on the entire market with its price fluctuations. Recently, according to data provided by Coinglass, if the Bitcoin price falls below $57,000, it will trigger cumulative long positions清算 on major centralized cryptocurrency exchanges (CEXs), with an estimated liquidation intensity of $845 million. Conversely, if the Bitcoin price breaks above $59,000, it may lead to the liquidation of cumulative short positions, with expected liquidation intensity of $570 million. Here, the term 'liquidation intensity' refers to the scale of contract liquidations at a specific price point due to price movements. It is worth noting that the liquidation intensity graph does not directly represent the number or value of contracts to be liquidated, but rather through the display of each liquidation cluster's significance and influence range relative to neighboring clusters, it reflects the intensity of market reactions when the price reaches a certain position. Higher liquidation intensity means that at this price level, market liquidity will trigger more intense liquidation effects.