Bitcoin

<h2 id="quick-take">Quick Take</h2> 
<p>Bitcoin exhibited a price surge of more than 2.5% in the last 24 hours and an overall increase of 4% across the weekend, positioning it just under the noteworthy $28,000 mark.</p> 
<p>This uptick in Bitcoin’s value has had a significant ripple effect on the broader crypto market, instigating a total of $75 million in liquidations in the past 24 hours. Of this amount, Bitcoin’s price surge alone prompted $30 million in short liquidations. An analysis of the liquidations reveals a predominance of short liquidations, accounting for $62 million, while long liquidations made up the remaining $13 million.</p> 
<p>In addition, the Ethereum/Bitcoin ratio, a reliable indicator of Bitcoin’s performance, registered a new low, declining by 1% over the past 24 hours to the current price of 0.0567. This dip underscores Bitcoin’s prevailing strength. Concurrently, Bitcoin’s dominance ratio has surpassed 51.3%, positioning itself on the cusp of a new year-to-date high, which, if achieved, would exceed 52%.</p> 
<figure id="attachment_365076" aria-describedby="caption-attachment-365076" style="width: 100%" class="wp-caption aligncenter">
 <img class="wp-image-365076 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/Liii.png" alt="Liquidations: (Source: Coinglass)" width="1176" height="379" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/Liii.png 1176w, https://cryptoslate.com/wp-content/uploads/2023/10/Liii-300x97.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/Liii-1024x330.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/Liii-768x248.png 768w" sizes="(max-width: 1176px) 100vw, 1176px">
 <figcaption id="caption-attachment-365076" class="wp-caption-text">
  Liquidations: (Source: Coinglass)
 </figcaption>
</figure> 
<figure id="attachment_365078" aria-describedby="caption-attachment-365078" style="width: 100%" class="wp-caption aligncenter">
 <img class="wp-image-365078 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/ETHH.png" alt="ETH/BTC &amp; Bitcoin Dominance: (Source Trading View)" width="1542" height="969" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/ETHH.png 1542w, https://cryptoslate.com/wp-content/uploads/2023/10/ETHH-300x189.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/ETHH-1024x643.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/ETHH-768x483.png 768w, https://cryptoslate.com/wp-content/uploads/2023/10/ETHH-1536x965.png 1536w" sizes="(max-width: 1542px) 100vw, 1542px">
 <figcaption id="caption-attachment-365078" class="wp-caption-text">
  ETH/BTC &amp; Bitcoin Dominance: (Source Trading View)
 </figcaption>
</figure> 
<p>The post <a rel="nofollow" href="https://cryptoslate.com/insights/bitcoins-rally-near-28000-sparks-75-million-in-market-liquidations/">Bitcoin’s rally near $28,000 sparks $75 million in market liquidations</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.</p>

Bitcoin’s rally near $28,000 sparks $75 million in market liquidations

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