🚨🚨 Joe Biden’s withdrawal wiped $67M of crypto long positions in 30 minutes🚨🚨$BTC $ETH $BNB

US President Joe Biden’s withdrawal from the 2024 presidential election race🏁 led to a sharp crypto dip 📉followed by a near-immediate correction, causing massive liquidations.

Nearly $67 million 💰of leveraged long positions were liquidated from the cryptocurrency💲 market within 30 minutes ⏰of United States President Joe Biden’s withdrawal from the 2024 US presidential election race.

The large liquidations, which took place between 5:30 pm and 6:00 pm UTC on July 21, were triggered by a sharp 2.3% fall in the price of Bitcoin to $65,880, according to cryptocurrency markets platform CoinGlass💹.

However, Bitcoin quickly recovered, reaching a 24-hour high of $68,480, causing traders exposed to leveraged short positions to lose a combined $34 million.

“Biden was not credible to beat Trump so an alternative candidate could have limited Trump’s chances,” said Markus Thielen, founder of cryptocurrency firm 10x Research. “But there is no credible alternative… hence BTC pump.”

Thielen said a “huge” buy order also hit the market around that time, contributing to the sharp recovery ❤️‍🩹 .#Write2Earn! #Write&Earn #Biden_Out_BTC_Up #update #BinanceTurns7