Polymarket "Trump's approval rating fell 7% compared to last week"
BTC liquidation amount 433.1 billion won... Long betting liquidation amount 343.8 billion won
);)
The main cause of the liquidation of long positions in BTC is said to be the sharp drop in the approval rating of former President Trump. According to data released by the betting site 'Polymarket', the approval rating of former President Trump fell by about 7% compared to last week.
According to the data released by Polymarket on the 3rd, the approval ratings of former President Trump and Vice President Harris are about 54% and 46% respectively. The approval ratings of the two candidates were also neck and neck in the polls released by ABC News and Ipsos. As the overwhelming lead of former President Trump plummeted in the past few weeks, massive liquidation occurred in the BTC futures market.
According to data released by the on-chain analysis platform CoinGlass on the 4th, the liquidation amount in the futures market on the 3rd was about $315 million (about 433.1 billion won), and $250 million (about 343.8 billion won) of that was the liquidation of long positions.
Following the liquidation of long positions in the BTC futures market, BTC fell by about 3% over the weekend. BTC, which had maintained the $69,000 level until the morning of the 3rd, fell to around $67,591 on the morning of the 4th.
BTC is trading at around $68,582 as of 9 a.m. on the 3rd based on CoinMarketCap.
Reporter Kwon Seung-won ksw@blockstreet.co.kr
