Donald Trump

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The cryptocurrency market faced a significant shake-up on November 3, with a record $350 million in liquidations as Bitcoin’s price unexpectedly dropped below $69,000. This dip comes amid investor concerns ahead of the upcoming U.S. presidential election on November 5. 
According to data from CoinGlass, a total of $349.8 million in crypto positions were liquidated, with $259.7 million in long positions and $90.1 million in short positions. This marks the highest liquidation day since October 25, when Bitcoin struggled to maintain gains above the $70,000 mark. 
Bitcoin has seen sharp price fluctuations over the past week, rising from around $67,700 on October 28 to nearly $73,300 the following day, before falling back down to a low of $67,719 on November 3. Since then, it has recovered slightly and is currently trading at $68,779, according to CoinGecko. 
The price volatility is unfolding as<a href="https://www.unlock-bc.com/131938/kamala-harris-gains-momentum-polymarket-election-bets-surge-exceeding-10k-100k/"> the gap narrows between U.S. presidential candidates </a>Donald Trump and Kamala Harris on Polymarket, a crypto-based prediction platform. 
The crypto community largely views Trump as a favorable candidate, given his campaign promises to remove SEC Chairman Gary Gensler and position the United States as a global crypto hub. In contrast, Harris has adopted a more moderate stance, advocating for clear regulatory frameworks in her outreach to Black voters. 
Speculation is high, with some traders predicting Bitcoin could hit $100,000 if Trump wins. Analysts at Bernstein suggest that a Harris victory, however, might lead to a significant Bitcoin price drop by year-end. Right after the election, crypto trader Daan Crypto Trades anticipates at least a 10% Bitcoin price movement in either direction, depending on the outcome. 
As election day approaches, investors remain on edge, impatiently watching the intersection of U.S. politics and crypto markets closely. 
The post <a href="https://www.unlock-bc.com/131976/crypto-market-faces-350m-liquidation-bitcoin-dips-us-election/">Crypto Market Faces $350M Liquidation as Bitcoin Dips Ahead of U.S. Election</a> appeared first on <a href="https://www.unlock-bc.com">UNLOCK Blockchain</a>.

Crypto Market Faces $350M Liquidation as Bitcoin Dips Ahead of U.S. Election

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