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$BTC Erases profits after the elections amid a liquidation event of $2.7 billion
Bitcoin fell below the $80 000 level, wiping out all gains made after Trump's election rally, according to Wintermute data. The sharp move triggered liquidations of approximately $2.7 billion, making it one of the largest deleveraging events in recent months.
Breaking below the key psychological support indicates increased volatility, as leveraged positions were forced out of the market.
Market participants are now closely watching whether BTC can recover to the $80K level or if additional downward pressure will emerge in the near future. Stay tuned for further updates.