Crypto sees volatility after Joe Biden’s withdrawal
The cryptocurrency market witnessed significant turbulence shortly after U.S. President Joe Biden announced his withdrawal from the 2024 presidential election.
Within a 30-minute window, nearly $67 million in leveraged long positions were liquidated according to CoinGlass data. This sudden market movement occurred between 5:30 PM and 6:00 PM UTC on July 21, triggered by a sharp 2.3% drop in Bitcoin’s (BTC) price, which fell from $67,713 to $65,880 according to CoinMarketCap data.
However...
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