More than 127,000 Traders Liquidated as Bitcoin Surpasses $120,000 for the First Time Since August
Bitcoin's recent surge above $120,000 has resulted in substantial liquidations, with over 127,000 traders affected.
October has arrived with significant excitement as Bitcoin’s price soared to over $120,000 for the first time since mid-August, following its remarkable all-time high. This surge has led to a liquidation of positions totaling more than $430 million within just one day, impacting over 127,000 traders globally.
BTC/USD Price Chart
BTC/USD. Source: TradingView
After a series of declines, the bulls have once again taken charge, with Bitcoin experiencing a surge of over ten thousand dollars in just four days. The overall market capitalization of BTC has climbed close to $2.4 trillion, with several altcoins, notably Zcash, also enjoying substantial gains.
Data from CoinGlass highlights that the liquidation values have skyrocketed, marking a notable shift in market sentiment as many traders re-evaluate their strategies in light of the recent price fluctuations. The single-largest liquidation noted was over $11 million on Hyperliquid.
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