Trump dump: Crypto liquidations hit $350M as Bitcoin drops below $69K
Donald Trump’s winning odds on Polymarket narrowed and Bitcoin's price dip prompted big liquidations.
Crypto market liquidations almost hit $350 million as Bitcoin briefly dipped below $69,000, with traders seeming jittery in the lead-up to the United States presidential election on Nov. 5.
In all, $349.8 million was liquidated across $259.7 million long bets and $90.1 million short bets on Nov. 3, according to CoinGlass. It was the biggest day of liquidations since Oct. 25, when Bitcoin
failed to sustain a rally past $70,000.
Bitcoin has seen wide price swings over the past seven days, starting on Oct. 28 at around $67,700, then reaching a high of almost $73,300 on Oct. 29 before dropping over the next few days to a low of $67,719 on Nov. 3.
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