Bitcoin Soars Over 65,000 People Liquidated Analysts: "Trump Trade" Heating Up May Drive Bitcoin to New Highs This Year
On October 29, Bitcoin prices strengthened. It has currently surpassed $71,000 per coin, reaching a new high since June. Other cryptocurrencies also experienced significant increases today, with Dogecoin rising over 18% at one point and Ethereum climbing nearly 5%. Alongside the surge in cryptocurrencies, many short positions were liquidated; Coinglass data shows that in the last 24 hours, over 65,000 people were liquidated, with a total liquidation amount of $228 million. Analysts believe that as the U.S. elections approach, the cryptocurrency market is likely to experience a "storm," with the "Trump trade" combined with favorable seasonal factors in the fourth quarter, Bitcoin could reach new historical highs in 2024.
