Over $24 million in bitcoin longs were liquidated in the past hour, data shows, amid Trump's speech at Bitcoin 2024.

Bitcoin (BTC) price volatility boomed as former U.S. President Donald Trump's speech at Bitcoin 2024 in Nashville.

Trump unveiled plans to make a "strategic national bitcoin stockpile" if elected, which was in line with the market expectations heading into the speech.

In the lead-up to Trump's comments, the digital asset rose above $69,000 on Saturday. The price fell to as low as $66,700 before jumping back over $68,000, data from CoinGecko shows, as traders digested the speech. The broader market index, CoinDesk20, followed the same pattern.

Nearly $24 million in longs, or bets on higher prices, were liquidated during the speech, which may have contributed to the price decline.