The crypto market experienced significant turbulence following rumors of U.S. President Joe Biden potentially dropping out of the presidential race. The speculation led to a sharp sell-off, wiping out $67 million in long positions. This event highlights the volatile nature of the crypto market and its sensitivity to major political developments. Analysts suggest that such events underscore the importance of risk management and staying informed about political influences on market dynamics.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
