Bitcoin during the American presidential elections 
$75,017 The increase in prices caused a crypto investor to suffer a huge loss. Blockchain tracking firm Lookonchain reported that a whale who opened a short-selling position in Bitcoin on election day lost approximately $75 million. Bitcoin reached new record levels as election results became clear.
The Misfortune of the Whale
When the election results were announced, Bitcoin prices skyrocketed on Donald Trump’s win. During the day, Bitcoin surprised investors by surpassing its previous high. This increase created an unexpected movement in market dynamics.
Then, the rise in Bitcoin price continued. BTC, which made ATH twice in the last 24 hours, rose to $ 76,849. Moreover, at the time of writing, it continues to find buyers for $ 76,000.
According to crypto data provider Coinglass, a total of $413.8 million worth of short positions were liquidated on election day. Most of these liquidations focused on Bitcoin. The most liquidations took place on Binance, OKX and Bybit exchanges. A single whale lost close to $75 million because he took a short position on Bitcoin. Traders who got used to fluctuations in a narrow range had made serious gains for more than 2 quarters.
“So crazy! After BTC reached a new all-time high, a whale shorting BTC liquidated $74.98 million!” – Lookonchain
ETF Outflows
Lookonchain, Bitcoin and Ethereum on election day 
$2,827 He reported large cash outflows in his ETFs. Fidelity’s ETH and BTC ETFs saw the largest outflows among other ETFs. This shows that investors have started to convert their purchases with the expectation of an increase into cash.
At the time of writing, Bitcoin is trading at $76,000 and Ethereum is up more than 7%, reaching $2,890. These increases show that fluctuations in the market continue.
Massive cash outflows in Fidelity’s Bitcoin and Ethereum ETFs signal that investors are reviewing their large-scale positions. This signals that volatility may continue in the crypto market.
While such major fluctuations in the crypto market pose risks for investors, they also present opportunities. Keeping a close eye on market movements can help investors adjust their strategies accordingly.
The movements of important market players and the liquidation of large positions once again reveal the risk of cryptocurrencies. It is important for investors to analyze market trends carefully.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
