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But we saved everything 🙂.
Bitcoin surged back above $80,000, leading to the liquidation of more than $300 million in short positions within an hour.
Mario Nawfal, founder and CEO of IBC Group, reported that traders had borrowed money to bet on a price decline, but these positions were closed by exchanges when the price increased.
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Earlier, Nawfal highlighted a sharp decline when Bitcoin dropped below $82,000, which resulted in the liquidation of $120 million in long positions over 15 minutes, as reported in one of his previous articles. He has also provided coverage on macroeconomic topics, including economists’ updated views on China’s economic outlook relative to the U.S. in a separate analysis. These reports reflect a history of rapid market movements and closely watched economic shifts.