Updated 2026-07-25
A liquidation heatmap is a chart overlay that shades price levels by how much leveraged size would be force-closed there. Bright, dense bands mean many estimated liquidation prices sit close together; faint areas mean little leverage is exposed. Read vertically, it answers one question: if price travels here, how much forced flow gets triggered?
Every heatmap is a model, not a ledger. Exchanges do not publish each position's liquidation price, so the levels are estimated from observable inputs such as open interest, price history and leverage assumptions. That makes the honest use descriptive: it maps where pressure is stacked, it does not predict direction. Our estimates are measured against what actually happened, and the method plus the current scorecard are public on the proof page. See the live Money Map or the full heatmap guide.