Bitcoin

when

<ul class="wp-block-list">
 <li>Following a range-bound weekend, Bitcoin reached $66,000 today.</li>
 <li>According to statistics, approximately $101.4 million in short positions were liquidated.</li>
</ul>
On the last day, when the price of <a href="https://thenewscrypto.com/bitcoin-miners-feel-the-heat-as-hashrate-climbs-and-profits-drop/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> rose, crypto derivatives traders who had bet on a decline in the market were liquidated for almost $100 million. Following a range-bound weekend, Bitcoin reached $66,000 today, gaining 5.73% on the previous day.
Bitcoin’s price returned to levels not seen since a long time. Reaching a high of $66,178 according to data from <a href="http://coinmarketcap.com" target="_blank" rel="noopener noreferrer nofollow">CMC</a>, the highest level it has achieved so far in October. According to statistics from CoinGlass, approximately $101.4 million in short positions were liquidated throughout the crypto market due to Bitcoin’s quick price surge.
<h3 class="wp-block-heading" id="h-uptober-begins">Uptober Begins?</h3>
Over $166 million was liquidated from 54,649 traders. On the past day, $52.33 million was accounted for by Bitcoin shorts. And $27.26 million was accounted for by Ether shorts. TradingView reports that Bitcoin’s market domination is near its greatest point since April 2021. When it surpassed 58%, thanks to its recent huge surge.
In nine out of the last eleven years, October has shown positive returns for BTC, therefore analysts have hypothesized when the so-called “Uptober” might start. We are entering one of the most exciting stages in the market, according to Bitcoiner Kyle Chassé, who addressed his 219,000 followers on X on October 14th.
Ether, meanwhile, recovered above $2,600, after a 7.76% increase in the last day. Altcoins have also been trending upwards over the previous day, with Solana seeing a 7.56% increase in value.
According to CoinShares, $407 million has been put into global crypto funds last week by asset heavyweights including <a href="https://thenewscrypto.com/blackrock-surpasses-11-5-trillion-in-assets-amid-record-inflows/" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a>, Bitwise, Fidelity, Grayscale, and ProShares. After losing $147 million the week before, this was a dramatic turnaround.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/bybits-bbsol-surpasses-100m-tvl-unlocks-new-earning-potential/" target="_blank" rel="noopener noreferrer nofollow">Bybit’s bbSOL Surpasses $100M TVL, Unlocks New Earning Potential</a>

Bitcoin Surges Amidst Market Rally, Short Liquidation Crosses $100M

Table of Contents

TheNewsCrypto

Other articles published on Oct 14, 2024

This Week in Crypto: Key Developments and Forecasts to Watch

Qubetics Makes Life Easier for dApps Developers as Chainlink and XRP Brave Market Challenges

Bitcoin Surges as Asian Markets React to China’s Economic Stimulus

How Onchain Consumer Apps are Disrupting Web2: A Deep Dive into Meme Culture and the Future of Us...

Bybit Announces Growth Milestone for Liquid Staking Token bbSOL, Surpassing $100 Million in Locke...

Mpeppe’s Presale Has Grabbed The Attention Pepecoin Whale Looking to Spend Big

Join our free newsletter for daily crypto updates!