According to CrypNuevo, the BTC liquidation heatmap shows a concentration of short liquidation levels around 116.5k following a long liquidation cascade earlier in the week, source: CrypNuevo on X, Sep 24, 2025. The author identified 116.5k as the first target where short liquidations could be triggered, highlighting a potential shift in where liquidity may be taken next, source: CrypNuevo on X, Sep 24, 2025.