Bitcoin is only $1,000 away from its previous bull market peak, and the liquidation map has been "completely exhausted."

BlockBeats News, on February 5, according to market data from a certain exchange, Bitcoin has returned to the $60,000 range after 456 days, just $1,000 away from the previous bull market peak of $69,000 on November 1, 2021.

In the past 24 hours, total liquidations across the network reached $948 million, with long positions accounting for $790 million. The liquidation map shows that after the recent continuous decline, there are almost no more positions left to liquidate, and the remaining long contracts below are limited. If Bitcoin falls below $65,000, the cumulative long liquidation intensity on major CEXs is $780 million; if Bitcoin breaks through $73,000, the cumulative short liquidation intensity on major CEXs is $930 million. Both figures are lower than the previous scale of over $1 billion for the same range, indicating that there is no significant liquidation intensity in either direction for the market going forward.

BlockBeats note: The liquidation map does not display the exact number of contracts pending liquidation or the precise value of contracts being liquidated. The bars on the liquidation map actually represent the relative importance, or intensity, of each liquidation cluster compared to adjacent clusters.