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Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-surge-hits-whale-hard-during-elections" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Surge Hits Whale Hard During Elections</a><br></p>
<p style="text-align: justify">In the midst of the recent U.S. presidential elections, <a href="https://en.bitcoinhaber.net/bitcoins-current-stability-and-growth-outlook" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> experienced a remarkable price increase that resulted in considerable financial losses for a prominent cryptocurrency stakeholder. According to blockchain analytics firm Lookonchain, a whale who had positioned themselves with a short bet on Bitcoin experienced a staggering loss of approximately $75 million as election outcomes unfolded.</p>
<h2 id="what-triggered-the-bitcoin-surge">What Triggered the Bitcoin Surge?</h2>
<p style="text-align: justify">The announcement of election results, particularly Donald Trump’s strong performance, prompted a swift rise in Bitcoin prices. As the day progressed, Bitcoin exceeded its previous record high, catching many market participants off guard. This sudden surge significantly altered trading dynamics.</p>
<h2 id="why-are-etfs-seeing-large-outflows">Why Are ETFs Seeing Large Outflows?</h2>
<p style="text-align: justify">Lookonchain also reported noteworthy cash withdrawals from Bitcoin and Ethereum exchange-traded funds (ETFs) on the day of the elections. Fidelity’s ETH and <a href="https://en.bitcoinhaber.net/bitcoin-sees-significant-market-shift" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> ETFs experienced the most significant outflows, indicating that traders were opting to liquidate their holdings in favor of cash.</p>
<p style="text-align: justify">As of the latest updates, Bitcoin is trading at around $76,000, while Ethereum is valued at approximately $2,890, marking an increase of over 7%. These fluctuations reflect the ongoing volatility in the market.</p>
<ul>
 <li>The whale’s short position resulted in a $75 million loss.</li>
 <li>Bitcoin’s price rose to an all-time high of $76,849.</li>
 <li>Significant outflows from Fidelity’s ETFs suggest investor caution.</li>
</ul>
<p style="text-align: justify">The sharp cash exits from Fidelity’s Bitcoin and Ethereum ETFs reveal that traders are re-evaluating their substantial positions, hinting at persistent market instability. The evolving situation underscores the unpredictable nature of the cryptocurrency landscape during significant events like elections.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/bitcoin-surge-hits-whale-hard-during-elections" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Surge Hits Whale Hard During Elections</a></h5>

Bitcoin Surge Hits Whale Hard During Elections

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