Donald Trump’s Presidential Elections and Their Impact on Bitcoin
Donald Trump’s near-victory in the US presidential election has had a significant impact on Bitcoin (BTC). As the competition in the presidential race intensified, the cryptocurrency market also became active. Trump’s election victory increased investors’ market expectations, causing great volatility. This led to a rapid and noticeable increase in Bitcoin’s price.
Bitcoin quickly reached $75,400, which was recorded as one of the highest prices in cryptocurrency history. While investors were concerned about whether this rise would be sustainable, the general market sentiment remained positive. Although a major increase has not been observed in altcoins yet, investors remain hopeful. In the cryptocurrency world, Bitcoin’s rise has led many traders to open short positions.
Traders with Increasing Losses in the Futures Market
This price movement in Bitcoin had a huge impact, especially on the futures market. Investors opened positions in the hope of making profits by exploiting short-term price movements, but this ended in disappointment for many traders. The rapid rise of Bitcoin caused traders who took short positions to suffer huge losses. This situation shows that investors cannot evaluate market conditions correctly.
Liquidation Data on Bitcoin
Bitcoin attracted attention with its liquidation data. Bitcoin, which tested $ 75,400 in a short time, dealt a blow to traders who were trading in a downward direction. According to data from Coinglass, a total of $510.86 million worth of transactions were liquidated in the last 24 hours. Of this liquidation amount, $371.54 million came from short positions and $139.33 million came from long positions.
- BTC Liquidation Amount: $264.15 million
- DOGE Liquidation Amount: $47.79 million
- ETH Liquidation Amount: $45.16 million
Prominent Exchanges in Market Liquidation
When we look at the crypto exchanges, the exchange that collected the most liquidation was Binance. The popular crypto exchange ranked first with a liquidation amount of $266.43 million in the last 24 hours. This situation once again revealed Binance’s effectiveness on the market. OKX ranked second with $108.42 million, and Bybit ranked third with $77.49 million.
Long Position Liquidation in Bybit
Another noteworthy data came from the Bitfinex exchange. While liquidation of short positions was at the forefront in other exchanges, Bybit attracted attention with the liquidation of long positions at a rate of 54.39%. This shows how risky the market has become and how difficult it is for traders to evaluate market conditions.
As a result, Donald Trump’s standing in the presidential election has had a huge impact on Bitcoin and the cryptocurrency market in general. It is of great importance for investors to be careful in this process and analyze market trends well. The volatility of cryptocurrencies should always keep investors on their toes and carefully monitoring market dynamics.
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