Bitcoin Crosses $80,000 as Short Liquidations Hit $330 Million

Bitcoin and gold surge after US elections, but $378 million short squeeze casts doubt on debasement trade

Bitcoin's rally above $81,000 alongside gold has revived speculation that investors are seeking protection against the weakening US dollar. The largest cryptocurrency rebounded from about $75,600 on Nov. 4, while gold futures surged 3.4% to $4,061.10, their biggest daily gain in three months. The dollar also weakened as investors digested the Democrats' sweeping victory in… Read the full story on CryptoSlateUnderstand the crypto stories that mat…

Bitcoin's Move to $81,000 Triggered $380 Million in Short Liquidations

More than 115,000 traders were affected over a daily period.

Bitcoin Crosses $80,000 as Short Liquidations Hit $330 Million

Bitcoin reclaims $80,000 after the US midterm elections as improving risk sentiment triggers short liquidations. Analysts assess ETF outflows, regulatory uncertainty and key price levels for the cryptocurrency.