Latest market data shows that the Bitcoin price movement is facing a significant turning point, which could trigger large-scale contract liquidations. According to analysis from the industry authority data platform Coinglass, if the Bitcoin price breaks through the $119,000 barrier, the cumulative short order liquidation scale on major Centralized Exchanges (CEX) will reach an astonishing $1.153 billion.

On the contrary, if the Bitcoin price falls below the support level of $115,000, the cumulative liquidation scale of long orders on major CEX platforms could reach as high as $1.343 billion. This data highlights the current market's high sensitivity and potential significant risk.

It is worth noting that this liquidation data does not accurately reflect the specific quantity or value of the contracts pending liquidation. In fact, the bar charts in the liquidation chart mainly demonstrate the relative importance and impact intensity of liquidation events at different price ranges. In other words, the chart reveals the potential level of market impact when the Bitcoin price reaches a certain specific level.

The higher bars in the liquidation chart indicate that once the price reaches that area, a more intense market reaction may be triggered due to sharp changes in liquidity. This visualization helps investors and analysts better understand and predict potential market turbulence.

Given the current market situation, investors should remain highly vigilant, closely monitor Bitcoin price movement, and implement proper risk management. At the same time, this situation highlights the high volatility characteristics of the cryptocurrency market, once again reminding participants to make cautious decisions and allocate assets wisely.