During the day, BTC capitalization increased by 6.5% and immediately reached $1.46 trillion. The increase in value is due to the results of the presidential elections in the United States, where the Republican candidate Donald Trump won (Donald Trump).
Within four hours after Bitcoin reached a record high of $75,407 on the largest crypto exchange Binance, the volume of liquidated short positions exceeded 212 million. The previous maximum asset price of $73,777 was recorded on March 13.
From November 5 to November 6, the total volume of position liquidations on the cryptocurrency market reached $499 million, with $370 million coming from short positions. Traders shorting Bitcoin suffered the most, with losses estimated at $220 million. They were followed by those shorting Dogecoin, with losses of $27 million.
Traders expect increased volatility to continue, with daily fluctuations of 4-5% possible, as the final results of the US election come to a close.
Bitcoin last surpassed Meta in market capitalization in January, after trading in spot Bitcoin ETFs began.
Today, according to blockchain observer CloverPool, the difficulty of Bitcoin mining for the first time in history has surpassed the 100 trillion mark at block 868,896. The previous record of 95.7 trillion was recorded two weeks ago.
Source: Bits
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