It was just 12 hours ago that the primary cryptocurrency struggled following the conclusion of the US midterm elections, dumping to a seven-week low of $75,600. The landscape now appears entirely different, with the asset reclaiming $80,000 and even touching $81,000 before it was stopped.<\/p>\n
The altcoins have expectedly followed suit. ETH has rocketed by more than 6% on a daily scale (and 5% hourly) to $2,440, while XRP has pushed past the $1.30 barrier.<\/p>\n
Naturally, these rapid price moves caught over-leveraged traders by surprise. Especially those with open short positions. Data from CoinGlass shows that $380 million worth of shorts have been liquidated in the past hour alone, while wrecked longs are at $90 million.<\/p>\n
The numbers on a 24-hour scale show that more than $910 million worth of both longs and shorts have been wiped out. The number of liquidated trades is above 117,000, according to CoinGlass data.<\/p>\n
The single-largest liquidated order is a whopping one. It took place on HTX, involved the ETH\/USDT trading pair, and was worth a mind-blowing $38 million.<\/p>\n
<\/a>Liquidation Data on CoinGlass<\/p>\n The most likely reason for this turnaround is the removal of uncertainty. As reported<\/a> earlier this morning, the Democratic Party reclaimed both chambers of Congress following US midterm elections, which, at first, led to a major price decline to the aforementioned seven-week low.<\/p>\n However, markets quickly erased<\/a> the gains, and BTC tapped $78,000. After some consolidation there, the cryptocurrency exploded as US trading hours began. These price gains are not isolated to crypto, as Wall Street opened well in the green.<\/p>\n The S&P 500 is currently up by almost 2%, while the Nasdaq and the Dow Jones have added over 2% of value. Even gold and silver are well in the green today.<\/p>\n The post $380M in Shorts Liquidated in an Hour as Bitcoin (BTC) Skyrockets to $81K<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" It was just 12 hours ago that the primary cryptocurrency struggled following the conclusion of the US midterm elections, dumping to a seven-week low of $75,600. The landscape now appears entirely different, with the asset reclaiming $80,000 and even touching $81,000 before it was stopped. The altcoins have expectedly followed suit. ETH has rocketed by […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-247615","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/247615"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=247615"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/247615\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=247615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=247615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=247615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![<\/a>Liquidation Data on CoinGlass<\/p>\nThe most likely reason for this turnaround is the removal of uncertainty. As reported<\/a> earlier this morning, the Democratic Party reclaimed both chambers of Congress following US midterm elections, which, at first, led to a major price decline to the aforementioned seven-week low.<\/p>\nHowever, markets quickly erased<\/a> the gains, and BTC tapped $78,000. After some consolidation there, the cryptocurrency exploded as US trading hours began. These price gains are not isolated to crypto, as Wall Street opened well in the green.<\/p>\nThe S&P 500 is currently up by almost 2%, while the Nasdaq and the Dow Jones have added over 2% of value. Even gold and silver are well in the green today.<\/p>\nThe post $380M in Shorts Liquidated in an Hour as Bitcoin (BTC) Skyrockets to $81K<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"It was just 12 hours ago that the primary cryptocurrency struggled following the conclusion of the US midterm elections, dumping to a seven-week low of $75,600. The landscape now appears entirely different, with the asset reclaiming $80,000 and even touching $81,000 before it was stopped. The altcoins have expectedly followed suit. ETH has rocketed by […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-247615","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/247615"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=247615"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/247615\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=247615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=247615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=247615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/11\/Screenshot-2026-11-04-173131.png\"){kind=link}