Bitcoin Long Liquidations May Reach $1.09 Billion if Price Drops Below $75,000

Forecast Trend Report by Period

Bitcoin could face a large wave of long-position liquidations if the token falls below $75,000.

BlockBeats, citing CoinGlass data on August 23, reported that cumulative long liquidations across major centralized exchanges would total $1.085 billion if Bitcoin drops under $75,000.

If Bitcoin breaks above $78,000, cumulative short liquidations across major exchanges would reach $609 million.

According to CoinMarketCap, Bitcoin was trading at $76,257.78 as of 2:14 p.m. in Seoul, down 1.33% from a day earlier. The token was up 20.98% from a week earlier.