Bitcoin Breaks $64K Barrier, Over $100 Million Liquidated

Bitcoin Price Soars Above $64,000

Bitcoin's price experienced a surge on Monday, October 14, reaching a peak of $64,109. This represents a notable 2.1% increase within a 24-hour period, propelling Bitcoin back to levels not observed since September 30.

Market Volatility and Liquidations

As Bitcoin rallied, the market experienced a significant shake-up. Over $101.4 million in short positions were liquidated, impacting a total of 54,589 traders. The total liquidation amount exceeded $166 million. Bitcoin shorts accounted for $53.13 million, while Ether (ETH) saw $28.57 million in liquidations.

Bitcoin's Dominance and Historical Performance

Bitcoin's impressive gain boosted its market dominance above 58%, close to its highest level since April 2021. October has been a historically strong month for Bitcoin, with positive returns in nine of the past eleven years. This historical performance has sparked speculation about a potential "Uptober" rally.

Ether and Other Cryptocurrencies

Ether also performed well, reclaiming the $2,500 mark with a 2.9% gain. Other cryptocurrencies, such as Solana (SOL), BNB, XRP, and Dogecoin (DOGE), displayed modest growth.