Bitcoin Price Suddenly Plunges to $76K as Hourly Liquidations Near $600M

Wall Street joined the leg down as well, with the S&P 500 erasing $2.2 trillion in market cap in 40 minutes. Bitcoin’s sudden price surge on Wednesday has reversed into a similarly painful decline to under $77,000 just minutes after Wall Street’s trading hours commenced. The altcoins have followed suit as they typically do, and the total value of wrecked positions has skyrocketed to almost $500 million in a single hour. BTC, Crypto Tank What a time to be an investor. The past 24-36 hours have been extremely volatile for all financial markets, and crypto is no exception. As the US midterms concluded and the Democrats secured a decisive win, BTC slumped to a seven-week low of $75,600 on Wednesday morning. By that afternoon, the cryptocurrency had erased the losses before it went on a wild run to $81,000, leaving $380 million in shorts wrecked. A quick rejection followed at $81,000, but BTC still managed to remain above $80,000. That is, until an hour ago, when the bears took control of the market again. In just minutes, the leading cryptocurrency plunged by several grand and dumped below $77,000 and toward $76,000. BTCUSD November 5. Source: TradingView The calamity has taken the...