Bitcoin Tops $81,000 After Midterm Dip, Squeezing Short Sellers
By Unchained
AI summary of the source article
Bitcoin rebounded from an election-night drop to reach $81,130, sparking a short squeeze. Across the crypto market, $950 million in leveraged positions were liquidated over 24 hours, with short bets accounting for $560 million.
Why it matters
The vote still shifts crypto’s policy outlook. The committees that oversee the industry will pass to Democrats when the new Congress is seated in January.
Key facts
- Bitcoin fell to $75,600 before climbing 7.3% to reach $81,130 on Coinbase.
- Over 24 hours, $950 million in leveraged crypto positions were liquidated, led by $560 million in shorts.
- Congressional committees overseeing the crypto industry will pass to Democrats when the new Congress convenes in January.
Source excerpt · Unchained
Bitcoin slid to about $75,600 while the midterm results came in, then climbed past $81,000 on Wednesday, forcing out hundreds of millions of dollars in bets against crypto. The post Bitcoin Tops $81,000 After Midterm Dip, Squeezing Short Sellers appeared first on Unchained .