Bitcoin Traded Above $80,000 as Crypto Liquidations Reached $963 Million

Bitcoin (BTC) traded above $80,000 on Nov. 4 as crypto derivatives liquidations reached $963.14 million in 24 hours, including $562.5 million in short positions, after the Nov. 3 U.S. midterm elections.

A snapshot at 11:48 a.m. ET (16:48 UTC) showed Bitcoin at $80,612.78, within a 24-hour range of $75,695.41 to $81,003.70. The liquidation total also included $400.64 million in long positions, leaving short liquidations $161.86 million higher. Bitcoin’s market capitalization was about $1.58 trillion.

Earlier Nov. 4 readings put liquidations at $903 million at 10:27 a.m. ET and $913 million at 10:35 a.m. ET. Those observations and the later $963.14 million total covered overlapping 24-hour windows, reflecting updated readings of the same market move rather than a separate liquidation event.

The trading activity followed the midterm results, but the timing alone does not establish that the election outcome caused the price move or liquidations.

Enna Lee

Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to [email protected].