Bitcoin nears $124K as $497M shorts liquidated
On October 3, Bitcoin’s price was close to $124,000, approaching another key milestone. At the time of writing, Bitcoin trades around $123,800, just half a percent below its all-time high (ATH) reached on August 14.
Meanwhile, Bitcoin’s surge triggered a wave of short liquidations. In the last hour alone, $165 million worth of positions were liquidated, with $139 million of those being shorts. Over four hours, the figures reached $243 million and $193 million respectively.
Liquidation heatmap. Source: Coinglass
According to Coinglass, in the past 24 hours, 144,419 traders were liquidated, with total liquidations amounting to $497 million. The largest liquidation occurred on Binance — a BTCUSDC position worth $10.46 million.
Will BTC reach $150,000?
At the same time, Strategy co-founder Michael Saylor conducted a poll on X, asking whether Bitcoin would exceed $150,000 by year-end. Nearly 76% of respondents agreed it could reach Saylor’s target.
Alongside Bitcoin, leading altcoins are also rallying. ETH is trading above $4,500, up 2% from yesterday. Among top altcoins, BNB surged 9%, BCH 4%, while SOL, DOGE, and ADA all gained around 3%.
As we wrote, Bitcoin nears ATH as Q4 pumps ignite altcoin rally
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