With over $1.3 billion in leveraged positions at risk, what does this mean for investors and the broader crypto market?
Bitcoin's present support level is crucial in today's economic environment because it could determine the fate of over $1.3 billion in leveraged positions.
If Bitcoin fails to hold this support, the market could see nearly $1.3 billion in leveraged long liquidations across various exchanges.
This would be a significant event, as it could push Bitcoin's price down even further in the short term.
However, if Bitcoin manages to stay above this support level, it could help to stabilize the market and prevent a broader sell-off.
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