Bitcoin falls to US$ 73,7 thousand after U.S. elections
📋 Summary
Bitcoin fell to US$ 73,7 thousand and Ether slipped to US$ 2,2 thousand, both at their lowest levels since August. The move came after the U.S. midterm elections and was amplified by liquidations of long positions, ETF outflows, and lingering caution following the attack on Binance.
Bitcoin fell more than 2% and reached US$ 73.708 late Sunday (8), its lowest price in more than two months. Ether fell about 5%, to US$ 2.223, also its lowest level since August, in a fresh bout of risk aversion in the cryptocurrency market.
According to Reuters, investors began to anticipate a tougher regulatory environment in the United States after the midterm elections. The result increased the influence of politicians critical of the sector and cast doubt on the progress of bills backed by the crypto industry.
The reaction mainly affects leveraged traders, whose positions can be closed automatically when their margin becomes insufficient. For spot investors, the immediate impact shows up in volatility and the loss of recent support levels, but there is no guarantee that the low recorded on Sunday will hold throughout the session.
Liquidations deepen Bitcoin’s decline
Political pressure hit a market that was already weakened. CoinGlass data compiled on Monday morning (9) indicated approximately US$ 1,04 billion in liquidations over the previous 24 hours. About 90% of the volume came from long positions—bets that prices would rise.
Ether led the forced losses, with US$ 455 million liquidated, while Bitcoin totaled US$ 279 million. When many long positions are closed at the same time, automatic selling can accelerate the decline and trigger further liquidations, creating a cascading effect.
This pattern repeats part of the dynamic seen on Friday, when Bitcoin fell to US$ 75,6 thousand amid US$ 1,25 billion in liquidations.
📋 Summary
Bitcoin fell to US$ 73,7 thousand and Ether slipped to US$ 2,2 thousand, both at their lowest levels since August. The move came after the U.S. midterm elections and was amplified by liquidations of long positions, ETF outflows, and lingering caution following the attack on Binance.
Bitcoin fell more than 2% and reached US$ 73.708 late Sunday (8), its lowest price in more than two months. Ether fell about 5%, to US$ 2.223, also its lowest level since August, in a fresh bout of risk aversion in the cryptocurrency market.
According to Reuters, investors began to anticipate a tougher regulatory environment in the United States after the midterm elections. The result increased the influence of politicians critical of the sector and cast doubt on the progress of bills backed by the crypto industry.
The reaction mainly affects leveraged traders, whose positions can be closed automatically when their margin becomes insufficient. For spot investors, the immediate impact shows up in volatility and the loss of recent support levels, but there is no guarantee that the low recorded on Sunday will hold throughout the session.
Liquidations deepen Bitcoin’s decline
Political pressure hit a market that was already weakened. CoinGlass data compiled on Monday morning (9) indicated approximately US$ 1,04 billion in liquidations over the previous 24 hours. About 90% of the volume came from long positions—bets that prices would rise.
Ether led the forced losses, with US$ 455 million liquidated, while Bitcoin totaled US$ 279 million. When many long positions are closed at the same time, automatic selling can accelerate the decline and trigger further liquidations, creating a cascading effect.
This pattern repeats part of the dynamic seen on Friday, when Bitcoin fell to US$ 75,6 thousand amid US$ 1,25 billion in liquidations.