Bitcoin (BTC) surged 3.25% today, reaching a market capitalization of $2.46 trillion, and now sits just 0.46% away from its all-time high ($124,457). Analysts attribute this upward trend to two key factors: investors perceiving Bitcoin as a safe haven asset amid the US government shutdown’s market uncertainty, and historically positive month effects in October for Bitcoin. 💰
Further insights into this movement are evident from futures markets, where a staggering $493.14 million in positions were liquidated over the past day. Long positions accounted for a significant portion of these liquidations ($144.16 million), while short positions contributed another $348.98 million. 📉
The largest liquidation hits came in Bitcoin ($209.76 million), followed by Ethereum ($105.91 million), and Solana ($23.27 million). AIA token, known for its AI focus, also experienced significant liquidation ($20.22 million), while BNB saw a notable $11.50 million in liquidations.
**Important:** This content is not intended as investment advice.**