Bitcoin

<h2 id="quick-take">Quick Take</h2> 
On Friday, Oct. 20, Bitcoin breached the $30,000 mark first time since August, edging within touching distance of its Year-to-Date (YTD) high in July at roughly $31,500. The resilience of the cryptocurrency was especially noteworthy, given the backdrop of prevailing geopolitical uncertainty, indicating a mystifying market behavior. 
Over the weekend, Bitcoin consistently hovered around $30,000, a move primarily driven by a significant volume of liquidations. In the preceding 24 hours, liquidations exceeded $120 million, with short liquidations constituting approximately $85 million of that total. Notably, Bitcoin was responsible for nearly $23 million of these shorts. 
Since Oct. 16, there has been a pronounced surge in daily short liquidations, reinforcing the notion of Bitcoin’s robustness in the face of market volatility. 
<figure id="attachment_367105" aria-describedby="caption-attachment-367105" style="width: 100%" class="wp-caption aligncenter">
 <img class="wp-image-367105 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/Liqq.png" alt="Liquidations: (Source: Coinglass)" width="661" height="349" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/Liqq.png 661w, https://cryptoslate.com/wp-content/uploads/2023/10/Liqq-300x158.png 300w" sizes="(max-width: 661px) 100vw, 661px">
 <figcaption id="caption-attachment-367105" class="wp-caption-text">
 Liquidations: (Source: Coinglass)
 </figcaption>
</figure> 
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Bitcoin skyrockets beyond $30,000 amid massive short liquidations

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