Over 127,000 Traders Wrecked as Bitcoin Taps $120K for the First Time Since August ATH

Uptober has began with a bang as bitcoin’s worth jumped to only over $120,000 for the first time since mid-August, when it rocketed to a brand new all-time high earlier than it was violently rejected.

Many altcoins are additionally nicely in the inexperienced day by day, which has resulted in lots of liquidations for over-leveraged merchants.

Ever since BTC’s aforementioned ATH in August, the bears appeared to have dominated the market, as evidenced by a few of the wild swings in the previous seven weeks. September, which is traditionally a bearish month, offered a reduction rally after the US Federal Reserve lowered the rates of interest for the first time in 2025, however that was short-lived.

The total adverse sentiment prevailed, and BTC slipped under $109,000 at the finish of the month. However, the bulls returned to the scene at the begin of the present enterprise week, and particularly since October kicked off.

In the previous 4 days alone, the major cryptocurrency has added over ten grand and skyrocketed previous $120,000 simply minutes in the past for the first time since these ATH ranges talked about above.

This spectacular surge has propelled a large improve in BTC’s market cap, which is now near $2.4 trillion as soon as once more. Many altcoins have adopted go well with, led by Zcash’s large 40% surge. XMR, CRO, HASH, ENA, APT, and ASTER are subsequent when it comes to day by day positive aspects.

Data from CoinGlass reveals that the whole worth of wrecked positions in the previous day is as much as over $430 million. The variety of liquidated merchants can be on the rise, surpassing 127,000.

The single-largest liquidated order occurred on Hyperliquid and was value over $11 million.

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