Bitcoin plunges and $120 million in long positions are liquidated, Mario Nawfal notes

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Bitcoin plunges and $120 million in long positions are liquidated, Mario Nawfal notes — Bitcoin drop triggers $120 million liquidations

Bitcoin dropped below $82,000, with $120 million in crypto long positions reportedly liquidated within 15 minutes.

Mario Nawfal, founder and CEO of IBC Group, reported that traders betting on a rally have been impacted as the sell-off disrupts bullish bets.

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Nawfal previously relayed a warning that Iran's economy could collapse within two weeks as oil shipments to China ended. He also revealed that a California fashion executive lost more than $100 million on risky financial bets. These reports come as traders face renewed volatility in crypto markets.

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