Fuel

Bitcoin

Strong

DeFi

Coin

<ul class="news-points wp-block-list">
 <li>Bitcoin soared to a daily high of $66,482, aiming for $69,000.</li>
 <li>Strong liquidation of shorts is a major reason why BTC prices are rising.&nbsp;</li>
 <li>The calls for Bitcoin at $70,000 have also skyrocketed recently.&nbsp;</li>
</ul>
Bitcoin (BTC) surged to the $65,000 price level, reaching a daily high of $66,482. The cryptocurrency hit the resistance zone, and an uptrend will be confirmed if BTC maintains price action above $66,000.
Santiment, a blockchain analysis platform, <a href="https://insights.santiment.net/read/why-did-your-portfolio-pump-to-start-the-week-thank-the-shorts-8188?utm_source=twitter&amp;utm_medium=post&amp;utm_campaign=twitter_portfolios_pump_thank_the_shorts_b_101424/&amp;fpr=twitter" target="_blank" rel="noopener noreferrer nofollow">noted this is the first time</a> since September 27th that Bitcoin has broken above the $66,000 price level. The liquidation of shorts in the past 24 hours is a major driving force behind this surge in BTC’s price. Santiment explained:
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “As traders with short positions were forced to close out (either voluntarily or through margin calls), it resulted in a rapid price increase, sparking even more upward momentum.”
</blockquote>
Additionally, Bitcoin trading volume also hit a two-week peak as BTC began its surge starting&nbsp; at 15:35 UTC, Monday. It is important to note that DeFi liquidations for Bitcoin saw their second-highest spike in over three months during the current cycle.&nbsp;
Santiment pointed out that the last time …
The post <a href="https://coinedition.com/bitcoin-surges-past-65k-liquidations-fuel-rally-70k-next/" rel="noopener noreferrer nofollow">Bitcoin Surges Past $65k, Liquidations Fuel Rally, $70k Next?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Bitcoin Surges Past $65k, Liquidations Fuel Rally, $70k Next?

Coin Edition

Other articles published on Oct 15, 2024

Trump Media and Technology Group (DJT) stocks’ rally extends, gaining over 18% today

US spot Bitcoin ETFs see $556M inflows in biggest day since June

How to get Spell Token?

2025 Crypto Prediction: XRP Price to $1, Solana to $200, and RCOF to $2 from $0.03

Qubetics Bolsters Crypto Defenses with Quantum-Proof Tech, NEAR’s Four-Year Growth While EarthMet...

FinCEN Investigates TD Bank for Suspicious Crypto Trading

Join our free newsletter for daily crypto updates!