BTC: liquidity above got paid. Now it sits on both sidesBTCUSDT Perpetual ContractBYBIT:BTCUSDT.PSYNDCADEA liquidity heatmap is an estimate: where stops and liquidations are likely resting. The pane under it is the receipt: the liquidations that really happened. This week on BTC you can watch one turn into the other. ▌ THE WEEK IN THREE NUMBERS - $756.1M of shorts liquidated across five exchanges in the window, against $207.9M of longs. 78 / 22. - The heaviest level: $200.1M of shorts forced out at 83,350. - Two HEAVY clusters left on the map: 83,010 below price, 87,854 above. ▌ READING IT 1. From 18 to 21 Sep, phosphor heat stacked above price between about 82k and 84k: the liquidity of shorts, building while price chopped underneath. 2. On 21 Sep one candle ran straight through it. The heat there ends at that candle, and the pane prints its tallest phosphor column of the week. The $200.1M level at 83,350 sits inside that band. 3. 18 Sep was the smaller version: heat just above price near 78–79k, one candle through it, a phosphor spike in the pane. 4. Now the heat has rebuilt on both sides. Below, magenta has built up in the same zone the shorts paid for on 21 Sep: 83,010, rated HEAVY, 1.7% away. Above, the nearest cluster is 87,385, rated LIGHT, and the heaviest on the map sits behind it at 87,854, HEAVY, 4.1% away. The 23 Sep drop flushed $21.3M of longs at 83,500 and stopped short of 83,010. ▌ WHAT TO TAKE FROM IT Read the two together. Heat with no prints is liquidity still resting. Heat that fades while the pane spikes is liquidity being paid out. ▌ WHAT NOT TO TAKE FROM IT Clusters are estimates, not orders on a book, and not support or resistance. Price is not obliged to visit either one. What stands out is the distance: the HEAVY cluster below sits 1.7% from price, the one above 4.1%. Liquidations are added up across Binance, Bybit, OKX, Deribit and Hyperliquid. Some exchanges publish only part of theirs, so every total is a floor. Numbers as shown on the chart at the time of posting. Not advice.