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Crypto long positions totaling $6.56 billion could be eliminated if Bitcoin hits $75,500, Jordan Kerridge warns
Jordan Kerridge, industry influencer, reports that $6.56 billion in crypto long positions will be wiped out if Bitcoin's price drops to $75,500.
This highlights the significant exposure in crypto derivative markets tied to Bitcoin's price movements.
Kerridge recently described the Tokyo Stock Exchange’s plans to launch bitcoin and crypto ETFs as highly significant. Earlier this month, he also cautioned that markets were bracing for the U.S. Fed rate decision and major corporate announcements. His latest update comes as large derivative positions in crypto draw renewed attention.
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