Bitcoin The gains have been widespread as the total market capitalization has pushed past the $2.7 trillion mark. In just one week, total crypto market capitalization has surged by more than $500 billion.Cryptocurrency traders, especially short-term holders, are known to be reactive. Unlike long-term holders who often focus on fundamentals, short-term holders react to price volatility and hype., which had a value of 76 at press time, an indication that the market was in “extreme greed”.
If Scott wins the vote, it could pave the way for pro-crypto bills. This could drive more gains across the market.The recent volatility across the crypto market has led to a surge in liquidations. Data from Coinglass showed that in the past week, short liquidations have spiked and continued to rise as in the last 24 hours, $283 million worth of shorts were liquidated.When short sellers are liquidated, they are forced to buy to close their positions.
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