Bitcoin’s value fell below $80,000, wiping out all gains made since President Trump’s election, amid $2.7 billion in liquidations as reported by Wintermute. This steep decline illustrates the cryptocurrency’s sensitivity to political events, with increased market volatility observed following significant political occurrences. Additionally, the high-leverage trading prevalent in crypto markets has led to cascading liquidations, further exacerbating market corrections during periods of instability.
Bitcoin tumbles below $80K, erasing post-election gains amid $2.7B liquidations: Wintermute
