As of 12 p.m. Eastern on U.S. election day, bitcoin ( BTC) remains steady above $70,000, currently priced at $70,283 per coin, reflecting a 3.8% increase over the past 24 hours. Despite Tuesday’s gains, bitcoin shows a 3.1% decrease across the past week. Presently, BTC trades constitute $50.19 billion out of the global trading volume, which totals $119.34 billion.
Bitcoin Blasts Past $70K—Election Day Sees Crypto Frenzy Unleashed
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Due to the recent upswing, crypto derivatives worth $57.01 million were liquidated in the past four hours alone. Of this, $11.85 million was attributed to BTC short positions, while BTC longs accounted for $3.3 million. Over the last day, the broader crypto market saw $218.18 million in derivatives positions liquidated, with $101.07 million involving short bets. Currently, leading bitcoin trading pairs include USDT, USD, FDUSD, USDC, KRW, and EUR.
