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<h2 id="quick-take">Quick Take</h2> 
<p>Yesterday, Nov. 19, Bitcoin surged past $37,000, coinciding with the win of pro-Bitcoin and “<a href="https://cnnespanol.cnn.com/video/javier-milei-candidato-anarcocapitalista-minarquista-argentina-fernando-del-rincon-conclusiones-cnne/">minarchist</a>” libertarian candidate <a href="https://cryptoslate.com/bitcoin-rises-as-pro-btc-candidate-javier-milei-wins-argentine-presidency/">Javier Milei</a> in the Argentinian presidential race. While a polarizing figure, this event has the potential to usher in another nation-state with a positive leaning towards Bitcoin, which, notably, is a G-20 country with a GDP of $633 billion, 20 times larger than El Salvador’s $32 billion GDP, according to the <a href="https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?locations=SV">World Bank</a>. The latter was the first nation to adopt Bitcoin as<a href="https://cryptoslate.com/el-salvador-to-officially-adopt-bitcoin-as-legal-tender-on-september-7/"> legal tender</a>, sending ripples to the global financial community.</p> 
<p>Simultaneously, as Bitcoin broke the $37,000 threshold, there was a palpable impact on the broader crypto market. Data revealed approximately $75 million in liquidations in the past 24 hours, with the majority being short positions. Bitcoin, predictably, bore the brunt of these liquidations, accounting for about $20 million.</p> 
<figure id="attachment_375203" aria-describedby="caption-attachment-375203" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-375203 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/l.png" alt="Liquidations: (Source: Coinglass)" width="745" height="380" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/l.png 745w, https://cryptoslate.com/wp-content/uploads/2023/11/l-300x153.png 300w" sizes="(max-width: 745px) 100vw, 745px">
 <figcaption id="caption-attachment-375203" class="wp-caption-text">
  Liquidations: (Source: Coinglass)
 </figcaption>
</figure> 
<p>The post <a href="https://cryptoslate.com/insights/bitcoin-rallies-past-37000-as-pro-crypto-argentine-presidential-victor-takes-the-helm/">Bitcoin rallies past $37,000 as pro-crypto Argentine presidential victor takes the helm</a> appeared first on <a href="https://cryptoslate.com">CryptoSlate</a>.</p>

Bitcoin rallies past $37,000 as pro-crypto Argentine presidential victor takes the helm

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