BTC, $844 Million Long Positions on Major Exchanges to be Forcibly Liquidated if $78,000 is Given Up

According to CoinClass, if the price of Bitcoin falls below $78,000, approximately $844 million worth of long (buy) positions on major cryptocurrency exchanges are estimated to be forcibly liquidated. Conversely, if the price of Bitcoin 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%.