Bitcoin Breaks $80K Following US Midterm Results, Triggering Massive Crypto Liquidations

TL;DR: Bitcoin broke the $80,000 barrier during the session, printing an intraday high of $81,000 before settling around $78,297. Liquidations across the global crypto derivatives market exceeded $950 million in 24 hours, with more than $560 million stemming from short positions. The asset’s total market capitalization stood at around $1.58 trillion , with a reported 24-hour trading volume of $31.67 billion. The bullish momentum across the crypto market consolidated this Wednesday, November 4, with Bitcoin breaking $80,000 after early returns from the U.S. midterm elections emerged, reversing the previous drop toward $75,618. The trading session across the crypto market saw sharp volatility tied to the resolution of the U.S. political landscape.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Crypto Economy.