Bitcoin surges as over 65,000 liquidated; analysts say 'Trump trade' heating up could drive Bitcoin to new highs this year
On October 29, Bitcoin's price strengthened. It has now surpassed £71,000 per coin, reaching a new high since June. Other cryptocurrencies also experienced significant gains today, with Dogecoin rising over 18% at one point, and Ethereum up nearly 5%. Alongside the cryptocurrency surge, many short sellers faced liquidation; Coinglass data indicates that over 65,000 people have been liquidated in the past 24 hours, with a total liquidation amount of £228 million. Analysts believe that as the US 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 may reach new historical highs in 2024.
