Orhan 
As the U.S. presidential election approaches, Bitcoin (BTC) and the broader crypto market have become focal points due to major liquidation waves and price volatility.
On November 3, positions worth $349.8 million were liquidated, highlighting increased investor caution amid rising uncertainty. This activity signals potential for even greater fluctuations in crypto markets leading up to the election.
Bitcoin Price Experiences Sharp Swings as Liquidations Reach Record Levels!
Just ahead of the U.S. election, Bitcoin saw sudden price drops and spikes. After trading at $67,700 on October 28, BTC surged to a high of $73,300 on October 29, but fell back to $67,719 by November 3. These price movements have driven liquidation rates higher as investors scramble to protect their positions.
According to CoinGlass, November 3 witnessed liquidations totaling $259.7 million in long positions and $90.1 million in short positions.
Crypto investors are evaluating the market impact of each presidential candidate. Republican candidate Donald Trump’s announcement to dismiss SEC Chair Gary Gensler and his promise to make the U.S. a crypto hub are seen as market-friendly moves.
BTC Expected to See 10% Volatility Depending on Election Results!
Some investors speculate that a Trump victory could propel BTC’s price to the $100,000 mark. On the other hand, Democratic candidate Kamala Harris supports a more regulated approach to crypto, which adds to market uncertainty.
Market analyst Daan Crypto Trades forecasts that BTC could experience up to 10% volatility post-election. Analysts suggest prices could rise if Trump wins, while a Harris victory might lead to BTC devaluation by year-end.
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