Lira Hits Rock Bottom, Bitcoin-TRY Goes Bananas on Binance 😵

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Quick Hits:

  • Oh, look! The Turkish lira decided to take a nosedive after Erdogan’s buddy, the Istanbul mayor, got himself arrested. 🙄
  • Bitcoin-lira trading? Suddenly it’s the cool kid on the Binance block.
  • The lira’s been more volatile than a teenager’s mood. No wonder everyone’s into crypto and shiny rocks.

So, the Turkish lira (TRY) had a little tantrum and plummeted to a record low against the dollar. All because Erdogan’s rival, Ekrem Imamoglu, got a surprise visit from the cops.

The currency did a swan dive, nearly hitting 41 to the dollar. That’s a 10% belly flop in a single day. Meanwhile, on Binance, the BTC/TRY pair was like, “Let’s party!”

Imamoglu’s party, the Republican People’s Party (CHP), called the arrest a big “screw you” to the people’s will. They were about to have a primary election, and Imamoglu was the prom king everyone wanted.

On Binance, the BTC/TRY love fest saw 93 BTC change hands in just one hour. That’s like a year’s worth of action in 60 minutes.

But hey, even with all that action, BTC was still on sale compared to Coinbase prices. Maybe traders were like, “Let’s dump this and get some stablecoin action going.”

Turkey’s been a rollercoaster for fiat currencies. It’s like the lira’s been on a bender since 2017. No wonder everyone’s into gold and crypto. Gotta protect that wallet, right?

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2025-03-19 14:41