Estimated liquidation zones modelled from open interest across
connected venues. Not observed liquidations — see the note below.
Side
Range
Scale
LONG liquidations (below spot)SHORT liquidations (above spot)BTC price
ESTIMATED, not observed. Intensity is where leveraged positions would
liquidate under a modelled leverage distribution — an assumption, not a
measurement, and not a forecast. Real liquidation events are drawn as
separate markers and are never blended into the intensity.