---
title: "Bitcoin Price Flirts With a New ATH, Leaving Over $100 Million Shorts Liquidated"
url: https://diffcoin.com/bitcoin-price-flirts-with-a-new-ath-leaving-over-100-million-shorts-liquidated/
description: "Bitcoin flirts with an all-time high, leaving more than $100 million worth of shorts liquidated."
published: 2024-10-29
updated: 2024-10-29
author: "Mila"
site: "Diffcoin"
---

# Bitcoin Price Flirts With a New ATH, Leaving Over $100 Million Shorts Liquidated

Bitcoin’s price seems to be on the verge of achieving a new all-time high in a massive rally leading up to the US Presidential elections.

The price managed to get as high as $73,600, which is less than $200 away from a new peak.

![BTCUSD_2024-10-29_21-28-18](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAyNjQ4IDE1ODYiIHdpZHRoPSIyNjQ4IiBoZWlnaHQ9IjE1ODYiIGRhdGEtdT0iaHR0cHMlM0ElMkYlMkZjcnlwdG9wb3RhdG8uY29tJTJGd3AtY29udGVudCUyRnVwbG9hZHMlMkYyMDI0JTJGMTAlMkZCVENVU0RfMjAyNC0xMC0yOV8yMS0yOC0xOC5wbmciIGRhdGEtdz0iMjY0OCIgZGF0YS1oPSIxNTg2IiBkYXRhLWJpcD0iIj48L3N2Zz4=)

Source: TradingView

This has caused considerable turmoil in the derivatives market, leaving over $110 million worth of short positions underwater. At the time of this writing, the price has now retraced below $73,000, trading at an increase of over 4.2% during the past 24 hours alone.

It’s also worth noting that the total trading volume for spot Bitcoin ETFs in the US today reached a whopping $3 billion.

This rally comes days before the country’s most important political event: the presidential elections, which are scheduled for November 5th.

As *CryptoPotato* reported earlier today, volatility is somewhat expected amongst market participants, given the importance of the election outcome. Currently, Donald Trump remains a heavy favorite on Polymarket.

![Screenshot 2024-10-29 at 21.35.25](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAxNTI2IDEzOTgiIHdpZHRoPSIxNTI2IiBoZWlnaHQ9IjEzOTgiIGRhdGEtdT0iaHR0cHMlM0ElMkYlMkZjcnlwdG9wb3RhdG8uY29tJTJGd3AtY29udGVudCUyRnVwbG9hZHMlMkYyMDI0JTJGMTAlMkZTY3JlZW5zaG90LTIwMjQtMTAtMjktYXQtMjEuMzUuMjUucG5nIiBkYXRhLXc9IjE1MjYiIGRhdGEtaD0iMTM5OCIgZGF0YS1iaXA9IiI+PC9zdmc+)

Source: Polymarket

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[Source link](https://cryptopotato.com/bitcoin-price-flirts-with-a-new-ath-leaving-over-100-million-shorts-liquidated/)