Massive Bitcoin Short Liquidations Send BTC Above ATH – Trump Win Sets A Bullish Environment
06 Novembre 2024 - 8:00PM
NEWSBTC
Bitcoin surged to new all-time highs during election night, hitting
an impressive $75,300 as market excitement reached a fever pitch.
This milestone pushed Bitcoin into price discovery, igniting
significant liquidations across trading platforms. Data from
CryptoQuant reveals an unprecedented surge in short liquidations,
surpassing $100 million within a single one-minute candle, marking
a historic moment for BTC. This explosive price action was fueled
by the surprise Trump win in the U.S. election, which appears to
have sparked renewed enthusiasm for crypto assets as investors
respond to the potential economic policies ahead. The election
outcome has sent shockwaves through the market, with Bitcoin
leading a fresh rally across the crypto space. Related Reading:
Ethereum Analyst Shares Correlation With S&P500 – Last Dip
Before It Hits $10,000? Now in uncharted territory, Bitcoin’s move
above $75,000 represents a powerful statement of investor
confidence despite broader economic uncertainties. As BTC enters
price discovery mode, traders and investors alike are bracing for
further volatility, while many anticipate that this momentum could
extend into even higher highs. The coming days will be critical as
Bitcoin’s price action continues to drive liquidations and shape
the outlook for the broader market. Bitcoin Bullish Phase Begins
Bitcoin has officially entered a bullish phase, setting new
all-time highs following Donald Trump’s election victory. As a
known crypto supporter, Trump’s win has spurred market optimism,
pushing BTC’s price above previous ATHs in a surge that began as
election results favored his lead. This bullish breakout was
accompanied by a dramatic liquidation spike, signaling strong
buying pressure as bearish bets were swiftly unwound. Data from
CryptoQuant analyst Maartunn shows that short liquidations exceeded
$100 million in a single one-minute candle—an unprecedented event
that underscores the power behind this rally and suggests that
Bitcoin’s upward momentum is just beginning. In the coming days,
volatility will remain high as global markets digest the election
outcome and brace for the Federal Reserve’s upcoming interest rate
decision on Thursday. Investors anticipate a dynamic market
response, with possible ripple effects across traditional and
crypto markets. Should the Fed keep rates steady or make any dovish
adjustments, it could further bolster Bitcoin’s rally and
strengthen the broader crypto market. Related Reading: Solana ‘Must
Break Descending Resistance’ To Regain Bullish Momentum – Analyst
The outlook remains bullish as market sentiment shifts positively
with Bitcoin’s new price discovery phase. While short-term
fluctuations are likely amid these major events, the long-term view
favors a bullish trend as Bitcoin leads the crypto market higher in
this new post-election environment. BTC Visits Uncharted Territory
Bitcoin is trading at $73,800 after breaking its previous all-time
highs and reaching a new peak of $75,300. This breakout has pushed
BTC into uncharted territory, a phase that historically signals
massive gains as bullish momentum builds. The focus is
whether Bitcoin can maintain its momentum above the previous ATH of
$73,800, a critical support level that could propel it further into
new highs if held successfully. However, the timing of this move
aligns with a particularly volatile week, as the market anticipates
the Federal Reserve’s upcoming meeting. The Fed’s decision on
interest rates could introduce significant unpredictability,
potentially tempering BTC’s rise or even sending it below the
$70,000 mark if the outcome diverges from market expectations. As
BTC navigates this price discovery phase, investors are closely
eyeing key levels. Related Reading: Ethereum Risk-To-Reward
Ratio Is ‘Too Good To Pass Up’ – Top Analyst Sets $6,000 Target
Holding above $73,800 would strengthen the bullish narrative, while
any pullback would test support levels and investor resilience amid
broader market uncertainty. With volatility expected, this week
could be pivotal for Bitcoin’s trajectory in the months ahead.
Featured image from Dall-E, chart from TradingView
Grafico Azioni Ripple (COIN:XRPUSD)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Ripple (COIN:XRPUSD)
Storico
Da Dic 2023 a Dic 2024