Bitcoin Price Approaches New High, Over $100 Million Short Positions Liquidated

- The Bitcoin price is nearing a new all-time high in a strong rally ahead of the U.S. presidential election.

- The price has reached a high of $73,600, just under $200 away from a new peak.

- This has caused significant turmoil in the derivatives market, leading to over $110 million in short positions being liquidated.

- Currently, the price has dropped below $73,000, but is still up more than 4.2% in the past 24 hours.

- The trading volume of Bitcoin ETFs in the U.S. today reached $3 billion.

- This price surge comes just days before the U.S. presidential election on November 5.

- According to CryptoPotato, volatility is expected to continue due to the importance of the election results. Currently, Donald Trump remains the favored candidate on Polymarket.