In twelve hours, Bitcoin moved from a seven-week low of $75,600 amid uncertainty surrounding the US midterm elections to a high of $81,000. Ethereum gained more than 6% in 24 hours to reach $2,440, while XRP moved above $1.30. According to CoinGlass, $380 million in short positions and $90 million in long positions were liquidated in one hour, bringing the 24-hour total to more than $910 million across over 117,000 trades. The largest liquidation was worth $38 million and involved the ETH/USDT trading pair on HTX. Bitcoin’s rally occurred as US trading hours began, alongside gains in major equity markets, with the S&P 500 up nearly 2%.
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