Bitcoin’s price seems to be on the verge of achieving a new all-time high in a massive rally leading up to the US Presidential elections. The price managed to get as high as ,600, which is less than 0 away from a new peak. Source: TradingViewThis has caused considerable turmoil in the derivatives market, leaving over 0 million worth of short positions underwater. At the time of this writing, the price has now retraced below ,000, trading at an increase of over 4.2% during the past 24 hours alone. It’s also worth noting that the total trading volume for spot Bitcoin ETFs in the US today reached a whopping billion. This rally comes days before the country’s most important political event: the presidential elections, which are scheduled for November 5th.
Topics:
George Georgiev considers the following as important: AA News, Bitcoin (BTC) Price, BTCEUR, BTCGBP, btcusd, btcusdt
This could be interesting, too:
Chayanika Deka writes Circle Signs MOU with HKT For Blockchain-Based Loyalty Solutions for Hong Kong Merchants
Wayne Jones writes DOJ Charges Crypto Exchange Operator With Laundering Silk Road Proceeds
Wayne Jones writes Metaplanet’s Bitcoin Holdings Surpass 1,000 BTC After Latest Purchase
Chayanika Deka writes FTX Agrees to 8 Million Settlement in Bybit Legal Dispute
Bitcoin’s price seems to be on the verge of achieving a new all-time high in a massive rally leading up to the US Presidential elections.
The price managed to get as high as $73,600, which is less than $200 away from a new peak.
This has caused considerable turmoil in the derivatives market, leaving over $110 million worth of short positions underwater. At the time of this writing, the price has now retraced below $73,000, trading at an increase of over 4.2% during the past 24 hours alone.
It’s also worth noting that the total trading volume for spot Bitcoin ETFs in the US today reached a whopping $3 billion.
This rally comes days before the country’s most important political event: the presidential elections, which are scheduled for November 5th.
As CryptoPotato reported earlier today, volatility is somewhat expected amongst market participants, given the importance of the election outcome. Currently, Donald Trump remains a heavy favorite on Polymarket.
