Bitcoin Hits $64K Mark on Monday, Crypto Market Sees $200M in Liquidations

On Monday, Oct. 7, bitcoin ( BTC) reached an intraday peak of $64,444, giving traders plenty to buzz about. By the end of Monday’s trading sessions, BTC had gained 2% against the U.S. dollar. The global crypto trading scene saw an impressive $92.617 billion in volume, with bitcoin grabbing a $29.85 billion slice of that pie. Though it hit $64K, by 1:10 p.m. EDT, bitcoin hovered slightly lower at $63,669. Looking at the bigger picture, bitcoin’s weekly increase sits at 0.8%, while over the last month, it’s risen a solid 17%. Meanwhile, Coinglass data shows $200.06 million worth of derivatives positions were liquidated, with $85.54 million coming from long bets. Specifically, $19.21 million were BTC long positions, while $36.73 million were short positions. In the last 24 hours, 61,544 traders were caught in the liquidation wave, according to Coinglass. Bitcoin’s movement on Monday demonstrates the ongoing action in the market, proving that even with some liquidation, the cryptocurrency remains on course.