Bitcoin Traded Above $80,000 as Crypto Liquidations Reached $963 Million

Bitcoin (BTC) traded above $80,000 on Nov. 4 as crypto derivatives liquidations reached $963.14 million in 24 hours, including $562.5 million in short positions, after the Nov. 3 U.S. midterm elections. A snapshot at 11:48 a.m. ET (16:48 UTC) showed Bitcoin at $80,612.78, within a 24-hour range of $75,695.41 to $81,003.70. The liquidation total also included $400.64 million in long positions, leaving short liquidations $161.86 million higher. Bitcoin’s market capitalization was about $1.58 trillion. Earlier Nov. 4 readings put liquidations at $903 million at 10:27 a.m. ET and $913 million at 10:35 a.m. ET.