According to the latest market data analysis, any significant fluctuations in Bitcoin prices could trigger large-scale liquidation events. Reports from professional analysis firms indicate that if Bitcoin prices break through the key resistance level of $117,000, the total liquidation scale of short positions on major Centralized Exchanges (CEX) could reach $558 million.

On the contrary, if the price of Bitcoin falls below the important support level of $113,000, the cumulative liquidation scale of long positions in these exchanges may reach as high as $690 million. This data highlights the current market's high sensitivity and potential for severe volatility risk.

It is worth noting that this clearing data does not represent the exact number of contracts pending liquidation or the specific value of contracts. Instead, they reflect the relative clearing intensity at different price points. In other words, this data reveals the potential degree of market reaction when the price of Bitcoin reaches specific levels.

A higher bar in the liquidation intensity chart indicates that once the price reaches that area, it may trigger a more intense market reaction due to a sudden change in liquidity. This analytical approach provides traders and investors with a valuable risk assessment tool, helping them make more informed decisions in this volatile cryptocurrency market.

As market participants closely monitor these key price levels, Bitcoin's next move will undoubtedly stir the nerves of global cryptocurrency investors. Whether it breaks through or falls below the current price range, it could trigger a chain reaction, having a profound impact on the entire cryptocurrency ecosystem.