Bitcoin updates historic high amid US elections

On Wednesday, November 6, at 3:08 a.m., bitcoin BTC $98,573.44 Bitcoin -0.25% Market capitalization $1.95 trillion VOL. 24 hours $2.88 billion reached a new all-time high, exceeding $ 75,000 amid preliminary results of the US election, where Donald Trump is ahead of Kamala Harris.

It is noted that on the Coinbase.com/ru/">Coinbase platform, the rate exceeded the previous record of $ 73,800, recorded in March.

At its peak at 8:25 am, the price of bitcoin was $ 75,317.

The total capitalization of the cryptocurrency market has risen to $ 2.43 trillion, with bitcoin holding 60.8% of the market and ethereum ETH $3,477.18 Bridged Ether (StarkGate) 4.21% Market capitalization $0.3 billion VOL. 24 hours $2.16 billion - 12.8%. The Fear and Greed Index reached 70, indicating a positive investor sentiment.

Over the past day, the volume of liquidations on the cryptocurrency futures market exceeded $ 487 million, with 105,901 traders closing their positions.

It is reported that long positions lost about $ 126 million, while shorts accounted for more than $ 361 million.

The largest liquidations were recorded on Binance and OKX exchanges — $ 285 million and $ 172 million, respectively, with a record liquidation on Binance of $ 74 million for the BTC/USDT pair.

According to media reports, during this market surge, Trump garnered 198 electoral votes to Harris' 112, approaching the 270 needed to win, which likely became the catalyst for the increased volatility of cryptocurrencies.

At the time of writing, the rate of the flagship crypto asset is $ 74,112, the market capitalization is $ 1.47 thousand, and traders have made daily trading deals worth $ 90.46 billion.

According to journalists, investors have been optimistic about the potential growth of bitcoin throughout 2024 if the Republican candidate wins.