Bitcoin (BTC) experienced a significant surge today, climbing by 3.25% to reach $123,808.32. This increase pushed the cryptocurrency’s market value to an impressive $2.46 trillion.
The current trading price is just 0.46% shy of its previous peak, with the last all-time high recorded at $124,457 based on available data.
Daily chart illustrating BTC’s price escalation.
Experts attribute this upward trend to two primary reasons: investors considering Bitcoin as a secure asset amidst the uncertainty caused by the US government shutdown and October being traditionally seen as a favorable month for Bitcoin.
The futures markets also witnessed notable activity, with liquidations totaling $493.14 million over the past day. Out of this amount, long positions accounted for $144.16 million while short positions made up $348.98 million.
The largest liquidations were observed in Bitcoin ($209.76 million), Ethereum ($105.91 million), and Solana ($23.27 million). Additionally, AIA token focused on AI saw liquidations worth $.22 million and BNB had liquidations amounting to €.50 million.
*This information should not be considered investment advice.