[CryptoQuant Analyst: The Risk of Liquidations Bringing Further Bearish Pressure is Moderate] BlockBeats News, September 23, CryptoQuant analyst Axel Adler Jr tweeted, 'The risk of liquidations bringing further bearish pressure is moderate. Net liquidation volume remains negative near −40 million, reflecting the continued sharp decline of long positions and sustained downward pressure. However, the liquidation intensity Z-score (365 days) is neutral/moderate, indicating no systemic risk at present. The market faces headwinds but lacks the momentum for a deep downturn triggered by liquidations.'