Donald Trump’s close to victory in the US presidential election has caused huge volatility in Bitcoin (BTC).
Making a big difference in the presidential race Donald Trumptook the cryptocurrency market by storm. Bitcoin, which briefly reached $75,400, renewed its record. Although altcoins haven’t seen a big boom yet, investors seem optimistic.
BitcoinIn line with the price movement, liquidation increased in the futures market. Short-term traders were especially disappointed. Although the market was pumped, losses on the forward side were not noticed.
Shocked by Bitcoin Liquidation Data
Bitcoin, which briefly tested $75,400, dealt a blow to traders who took bearish trades. According to data from Coinglass, $510.86 million worth of transactions were cleared in the last 24 hours. Of this amount, $371.54 million were short and $139.33 million were long transactions. Liquidation amounts were recorded at $264.15 million in BTC, $47.79 million in DOGE, and $45.16 million in ETH.
When we look at crypto exchanges, the name that collected the most liquidation was Binance. The popular crypto exchange came in first with a liquidation amount of $266.43 million in the last 24 hours. OKX is second with $108.42 million, and Bybit is third with $77.49 million. Another noteworthy data came from Bitfinex. While other exchanges stand out with liquidation of short trades, Bybit grabbed the attention with liquidation of 54.39% of long trades.
This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.
