Bitcoin

<h2 id="quick-take">Quick Take</h2>
<p>A remarkable spike in Bitcoin’s value during the early hours (UTC) has precipitated a slew of liquidations across the cryptocurrency market, underscoring once again the high volatility of the digital asset sector.</p>
<p>As per the data, Bitcoin crossed the $35,000 threshold around 2 a.m., setting off a domino effect of liquidations totaling over $221 million. This event was a significant contributor to the $400 million in liquidations witnessed across the entire digital currency market in the past 24 hours.</p>
<p>The bulk of these liquidations, approximately $300 million, were attributed to the short side. This indicates a widespread closure of positions that gambled on Bitcoin’s value falling rather than rising.</p>
<figure id="attachment_367464" aria-describedby="caption-attachment-367464" style="width: 100%" class="wp-caption aligncenter"><img class="wp-image-367464 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/Cg.png" alt="Liquidations: (Source: Coinglass)" width="1186" height="357" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/Cg.png 1186w, https://cryptoslate.com/wp-content/uploads/2023/10/Cg-300x90.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/Cg-1024x308.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/Cg-768x231.png 768w" sizes="(max-width: 1186px) 100vw, 1186px">
 <figcaption id="caption-attachment-367464" class="wp-caption-text">
  Liquidations: (Source: Coinglass)
 </figcaption>
</figure>
<p>The post <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com/insights/bitcoins-climb-past-35000-triggered-over-221-million-in-liquidations/">Bitcoin’s climb past $35,000 triggered over $221 million in liquidations</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com">CryptoSlate</a>.</p>

Bitcoin’s climb past $35,000 triggered over $221 million in liquidations

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