$BTC jumped above $80,000 to around $80,510, up 4.2% in 24 hours, after the midterm election results emerged.

In just one hour, $465 million in market positions were liquidated, including $377 million in short positions.

Liquidations on $BTC reached about $229 million, with short positions accounting for 96.4%, while $ETH recorded liquidations of about $170 million.

Over 24 hours, total liquidations reached $915 million, affecting 117,549 traders.

The price surged in a short squeeze after the midterm election results were announced.

If short positions continue to retreat, liquidations could intensify volatility; but the market may calm down after the major liquidations. No one can guarantee the trend will continue.

The key lesson: short liquidations accelerate rallies, but they don’t mean there won’t be a correction.

Do you expect $BTC to close the week above or below $80,000? 👇

#BTC #Liquidation

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