Türkiye's political unrest drives up demand for cryptocurrencies

2025-03-20 08:03:18

Bitcoin hit $87,000 per coin, a two-week high. Previously, Ethereum once soared by more than 7%. Some analysts said that the trigger for the strengthening of the cryptocurrency market may be the political turmoil in Turkey. On the Binance platform, the trading volume of Bitcoin-Turkish Lira (BTC/TRY) surged. Due to the sharp depreciation of the lira, investors may turn to USDT and other assets pegged to the US dollar. Data shows that more than 100,000 people were liquidated in the cryptocurrency market in the past 24 hours.

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