By Mat Di Salvo
2 min read
But some major altcoins have jumped even higher, with Dogecoin (DOGE) rising 7% to a price just below $0.17, and Solana (SOL) and Avalanche (AVAX) popping by about 5%. Other meme coins like BONK and Cat in a Dog's World (MEW) are even outpacing Dogecoin on the day.
In the past 24 hours, $248 million worth of crypto futures have been liquidated across all assets, CoinGlass data shows. Of that figure, about $145 million in long positions—that is, traders speculating on the future price of digital coins and tokens to go up—have had their bets closed. A total of $103 million were short positions.
All told, over $69 million worth of Bitcoin positions were liquidated, with shorts outpacing the longs as of this writing.
Bloomberg ETF analyst Eric Balchunas told Decrypt that Bitcoin was a good asset to watch today amid Election Day action, as it has been talked about so much by Donald Trump during his election. The March approval of spot Bitcoin exchange-traded funds (ETFs) has allowed more investors than ever before to get exposure to the cryptocurrency.
Edited by Andrew Hayward
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