
Hold on to your hats, folks! The crypto world is buzzing with excitement as the market is on a wild ride, all thanks to the political showdown across the pond. The chatter on the street is that Donald Trump, the Republican candidate, is pulling ahead in the US presidential race, and this has sent the bulls into a frenzy.
But not everyone is smiling. Short traders are licking their wounds, with a jaw-dropping $500 million worth of their positions getting wiped out in just a day. The biggest loser? A colossal $75 million liquidation on Binance! Ouch.
With Trump's potential return to the White House looking more likely, the digital asset market is dancing with joy. The self-proclaimed ‘pro-crypto’ candidate’s lead has propelled Bitcoin to smash through its previous all-time high, soaring past $75,000. And Bitcoin isn’t partying alone—altcoins are joining the rally with some eye-popping gains. UNI is up by 35%, DOGE by 25%, and the list goes on with POPCAT, BONK, and WIF following suit.
This excitement has sent the total crypto market cap through the roof, now sitting pretty at $2.6 trillion—a 7% jump! But this surge has left many over-leveraged traders, especially those betting against the market, in tears. Nearly 110,000 traders have been caught in the storm, and it seems one unlucky whale on Binance was caught betting against Trump, resulting in that massive $75 million wipeout.
So, whether you’re sipping your coffee with a grin or nursing a crypto hangover today, the market is proving once again that it’s as unpredictable as ever. Stay tuned, because the crypto rollercoaster shows no signs of slowing down!