Bitcoin

Dogecoin

Ethereum

Solana

Shiba Inu

<p>The cryptocurrency market experienced a major shake-up on October 14 as Bitcoin surged past $64,500, marking a new high for October. This significant price increase, a 2.1% gain in 24 hours, caused widespread liquidations across the market.</p><h3 id="over-100-million-liquidated-as-bitcoin-rallies">Over $100 Million Liquidated as Bitcoin Rallies</h3><p>As Bitcoin rallied, over 54,000 traders were liquidated, resulting in losses exceeding $166 million across crypto derivatives markets. Data from<a href="https://www.coinglass.com/currencies/BTC" rel="noopener noreferrer nofollow"> CoinGlass</a> shows Bitcoin shorts accounted for $53.13 million, while Ether (ETH), which climbed to a two-week high of $2,540, saw $28.57 million in liquidations.</p><h3 id="bitcoin-reclaims-market-dominance">Bitcoin Reclaims Market Dominance</h3><p>Bitcoin’s surge brought its market dominance back above 58%, reaching levels last seen in April 2021. Market analysts have been closely monitoring this rally, with some speculating this could signal the beginning of an extended bull run. The term “<a href="https://www.coindesk.com/tag/uptober/" rel="noopener noreferrer nofollow">Uptober</a>” has been frequently mentioned, referring to the historically positive performance of Bitcoin during the month.</p><h3 id="altcoins-follow-bitcoin-s-momentum">Altcoins Follow Bitcoin’s Momentum</h3><p>While Bitcoin took center stage, Ether reclaimed the $2,500 mark with a 2.9% gain. Other altcoins like Solana (SOL), which rose 4.4%, along with BNB, XRP, and Dogecoin, also saw modest gains as the market reacted to Bitcoin’s dominance.</p><h3 id="market-outlook-exciting-phase-ahead">Market Outlook: Exciting Phase Ahead?</h3><p>Experts like <a href="https://x.com/kyle_chasse" rel="noopener noreferrer nofollow">Kyle Chassé</a> believe this rally marks the start of a highly anticipated market phase, stating that “the next big rally isn’t just a possibility—it’s a reality waiting to unfold.” However, caution remains as market volatility continues to loom.</p><p></p><p><em><strong>Disclaimer:</strong> This article is intended for informational purposes only and should not be construed as legal, tax, investment, financial, or any other form of advice.</em></p><p></p><p><em>Source: </em><a href="https://icogemhunters.com/bitcoin-explodes-above-64k-is-another-major-rally-on-the-horizon/" rel="noopener noreferrer nofollow">ICO Gem Hunters</a></p>

Bitcoin Explodes Above $64K—Is Another Major Rally on the Horizon?

Table of Contents

ICOGemHunters

Other articles published on Oct 14, 2024

XRP remains trapped as traders turn to PropiChain’s whitelist presale for gains

UAE Central Bank Approves First Regulated Dirham Stablecoin

What’s Going On? Google Leaves Bitcoin and ETH Investors in Shock!

Musk X Empire: October 14 Daily Combo, Riddle, and Rebus

Blockchain Life 2024 in Dubai: A Legendary Gathering of Market Insiders Ahead of the Bull Run.

Qubetics Takes the Lead in Presale with Decentralized VPN—What’s Next for Solana and EcoChain?

Join our free newsletter for daily crypto updates!