Part of BTC’s spike could be attributed to a $94 million liquidation of bearish or hedged bets against the asset, Coinglass data shows, as Trump leads in early voting.
Buoyed by donations and votes from a digital asset industry he aggressively courted, Trump won a second term to the White House in his third bid for the U.S.’s highest office.
The latest price moves in bitcoin (BTC) and crypto markets in context for Nov. 5, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.