BTC, $844M Long Positions to Be Forcibly Liquidated on Major Exchanges if Price Falls Below $78,000

According to CoinClass, approximately $844 million worth of long positions on major cryptocurrency exchanges are estimated to be forcibly liquidated if the Bitcoin price drops below $78,000. Conversely, if the Bitcoin price recovers to $81,000, $1 billion worth of short positions will be liquidated. According to CoinMarketCap, BTC is currently trading at $79,335, down 2.28%.