Traders Watch in Disbelief as Short Positions Vaporize
Crypto whales were busy shaking up the market early Monday, October 14, as Bitcoin broke through the $64,000 ceiling. This sudden 2.1% pump hit short-sellers like a freight train. Data from CoinGlass reveals that $101.4 million worth of short positions were liquidated, catching bearish traders off-guard. But Bitcoin didn’t stop there. It topped out at $64,173, reaching levels not seen since late September.
In total, 54,649 traders got liquidated, pulling $166 million out of the market. A solid $52.33 million of that came from Bitcoin shorts alone. Ether shorts weren’t far behind, racking up $27.26 million in liquidations. But, Bitcoin’s move pushed its dominance over the crypto space to a new peak, now hovering above 58%. The bulls aren’t messing around.
Crypto Analysts Call the Shots – Bulls Ride High
While some traders held onto their hope of a market slide, others embraced the bullish wave. Bitcoiner Kyle Chassé, always one to keep things spicy, told his 219,000 followers that the “tides are shifting.” He wasn’t bluffing. He fired up the conversation, claiming that “the next big rally isn’t just a possibility — it’s a reality waiting to unfold.” Not much room for doubt there.
Meanwhile, onchain wizard James Check threw in his cryptic take, saying, “Pray for the bears.” But anyone betting against the Bitcoin pump could already be lighting a few candles.
Altcoins Join the Show, But Stay Mostly Quiet
Ether, the second in command, climbed to $2,540, a two-week high, grabbing a 2.9% gain over the day. Solana also joined the parade, rising 4.4%, but the usual high-caps like BNB, XRP, and Dogecoin had less reason to cheer. Their gains remained pretty muted, each showing less than 1% increase, possibly biding their time.
October is notorious for sending Bitcoin prices to new highs, and this year’s “Uptober” seems to be staying on brand. Traders continue speculating, keeping one eye on the charts and the other on the liquidations.
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