BTC fell to $97,860 post-election HIGH: Bitcoin’s price slipped to $97,860 from a peak of $103,900 after Donald Trump’s election victory. This decline resembles struggles in other cryptocurrencies like Ethereum, hinting at market instability. The unprecedented selling pressure saw 204,384 traders liquidated, increasing concerns about Bitcoin’s strength in holding gains.
Market pressure rises amid massive liquidations: The market pressure surged, with 204,384 traders facing liquidation, incurring losses amounting to $509,480,000. Contributing factors include the Bhutan Government selling $40 million of Bitcoin and looming Bitcoin options contract expirations. Despite the downturn, experts are optimistic about a potential continuation of the bullish phase.
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