$844M in BTC longs face liquidation if price drops below $78K

An estimated $844 million in long positions will be liquidated across major cryptocurrency exchanges if Bitcoin's price falls below $78,000, according to data from Coinglass. Conversely, a recovery to $81,000 would trigger the liquidation of $1 billion in short positions. BTC is currently trading at $79,335, down 2.28% for the day, CoinMarketCap data shows.