On the Binance cryptocurrency exchange, Bitcoin reached a record price of $75,407, which caused the liquidation of short positions worth more than $212 million within four hours. The previous record price of $73,777 was set on March 13. From November 5 to 6, the total volume of liquidations on the cryptocurrency market amounted to $499 million, of which $370 million was short positions. The biggest losses were suffered by traders who bet on a decline in Bitcoin, their losses amounted to about $220 million. In second place in losses were Dogecoin shorts, who lost $27 million.
The current situation on the market remains highly volatile, and traders expect daily price fluctuations of 4-5% while the final results of the US elections are being summed up.
The last time Bitcoin outperformed Meta in market capitalization was in January, when trading in spot Bitcoin ETFs began. Today, according to data from the blockchain analytics platform CloverPool, Bitcoin mining difficulty exceeded 100 trillion for the first time in history at block 868,896. The previous difficulty record of 95.7 trillion was recorded just two weeks ago.