Peter Todd

Bitcoin

Dogecoin

Crypto derivatives traders who bet the crypto market would fall have been liquidated for more than $100 million in the past day as Bitcoin’s price surged.
Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) rose above $64,000 early on Oct. 14, gaining 2.1% in the last 24 hours, breaking out from a tight range-bound weekend.
TradingView shows BTC peaked at $64,173, the highest it’s reached so far in October, returning to heights not seen since Sept. 30.
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 <img alt="Derivatives" src="https://s3.cointelegraph.com/uploads/2024-10/0192897d-fff6-7a73-98ce-f861d3487e12" title="">
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 Bitcoin reached over $64,000 for the first time this month. Source: TradingView&nbsp;
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As a result of Bitcoin’s sudden price move, over $101.4 million in short positions were liquidated across the crypto market, according to <a data-ct-non-breakable="null" href="https://www.coinglass.com/LiquidationData" rel="null" target="null" text="null" title="null">data</a> from CoinGlass.
In all, 54,649 traders were liquidated for over $166 million, with Bitcoin shorts accounting for $52.33 million of the last day’s total, followed by Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="null" target="null" text="null" title="null">ETH</a>) shorts at $27.26 million.&nbsp;
<figure>
 <img alt="Derivatives" src="https://s3.cointelegraph.com/uploads/2024-10/01928988-fc5f-785f-8d95-d82536179d93" title="">
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 Bitcoin short sellers made up over half of the short liquidations in the past 24 hours. Source: CoinGlass
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Bitcoin’s big move also pushed its market dominance back above 58%, which is close to the highest it has been since April 2021, <a data-ct-non-breakable="null" href="https://www.tradingview.com/symbols/BTC.D/" rel="null" target="null" text="null" title="null">according</a> to TradingView.&nbsp;
Analysts <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/uptober-mentions-plummet-traders-turn-bearish-crypto" rel="null" target="null" text="null" title="null">have speculated</a> when the so-called “Uptober” would begin, as October has seen positive returns for BTC in nine of the past 11 years.
Bitcoiner Kyle Chassé <a data-ct-non-breakable="null" href="https://x.com/kyle_chasse/status/1845680635513545123" rel="null" target="null" text="null" title="null">told</a> his 219,000 followers on X on Oct. 14 that “the tides are shifting,” and we’re heading into one of the most “exciting phases of the market.”
“The next big rally isn’t just a possibility — it’s a reality waiting to unfold,” he added.&nbsp;
“Pray for the bears,” onchain analyst James Check <a data-ct-non-breakable="null" href="https://x.com/_Checkmatey_/status/1845688653416382761" rel="null" target="null" text="null" title="null">chimed</a> in.
&nbsp;Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-price-return-stands-apart-from-the-crowd-nydig" rel="null" target="null" text="null" title="null">Bitcoin’s price return ‘stands apart from the crowd’ — NYDIG</a>
Meanwhile, Ether reclaimed $2,500, topping out at a two-week high of $2,540 following a 2.9% gain in the last 24 hours.
Crypto altcoins have also been predominantly in the green over the last day, with Solana (<a data-ct-non-breakable="null" href="https://cointelegraph.com/solana-price-index" rel="null" target="null" text="null" title="null">SOL</a>) up 4.4% over the past 24 hours.
High-cap altcoins, including BNB (<a data-ct-non-breakable="null" href="https://cointelegraph.com/binance-coin-price-index" rel="null" target="null" text="null" title="null">BNB</a>), XRP (<a data-ct-non-breakable="null" href="https://cointelegraph.com/xrp-price-index" rel="null" target="null" text="null" title="null">XRP</a>) and Dogecoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/doge-price-index" rel="null" target="null" text="null" title="null">DOGE</a>), saw muted gains of less than 1% on the day.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/peter-todd-bitcoin-developer-satoshi-nakamoto-hbo-mt-gox-binance-hodlers-digest/" rel="null" target="null" text="null" title="null">Peter Todd named Satoshi on HBO, Mt. Gox repayment plan deadline postponed, and more: Hodler’s Digest</a>

Crypto short liquidations breach $100M as Bitcoin reclaims $64K

Cointelegraph

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