---
title: "Bitcoin Price Skyrockets by $2.5K in Minutes to Highest Levels Since July, Is Uptober Finally Here?"
url: https://diffcoin.com/bitcoin-price-skyrockets-by-2-5k-in-minutes-to-highest-levels-since-july-is-uptober-finally-here/
description: "The daily liquidations have shot up to over $250 million."
published: 2024-10-15
updated: 2024-10-15
author: "Mila"
site: "Diffcoin"
---

# Bitcoin Price Skyrockets by $2.5K in Minutes to Highest Levels Since July, Is Uptober Finally Here?

The primary cryptocurrency is on the run again, having surged by another two and a half grand in the past hour or so to a multi-month peak of almost $68,000.

This has fueled the speculation that the asset has finally materialized on the previous assumptions that October will be a highly bullish month.

*CryptoPotato* reported earlier today that the largest digital asset had charted some impressive gains by soaring to $66,500, which was a three-week peak at the time.

After a minor stagnation and a brief correction, the bulls seem back in charge as the asset broke out of the $66,500 resistance level and jumped to $67,950 (on Bitstamp) minutes ago.

This became its highest price tag since late July, when it was actually rejected at the coveted $70,000 level. Today’s surge comes amid a growing number of analysts predicting that the asset’s actual bull run is just getting started.

![Bitcoin/Price/Chart 15.10.2024. Source: TradingView](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAxODM1IDgxOSIgd2lkdGg9IjE4MzUiIGhlaWdodD0iODE5IiBkYXRhLXU9Imh0dHBzJTNBJTJGJTJGY3J5cHRvcG90YXRvLmNvbSUyRndwLWNvbnRlbnQlMkZ1cGxvYWRzJTJGMjAyNCUyRjEwJTJGQlRDVVNELTkucG5nIiBkYXRhLXc9IjE4MzUiIGRhdGEtaD0iODE5IiBkYXRhLWJpcD0iIj48L3N2Zz4=)

Bitcoin/Price/Chart 15.10.2024. Source: TradingView

It’s worth noting that the primary cryptocurrency stood below $58,000 last Thursday, but has added nearly ten grand in less than a week since then.

With most larger- and lower-cap alts registering impressive gains over the past 24 hours, it’s no wonder that short, over-leveraged traders have been harmed the most.

Data from CoinGlass shows that more than $260 million have been liquidated in the past 24 hours alone, with short positions taking the lion’s share with $170 million.

In fact, $65 million has been wrecked in the past hour alone, with BTC responsible for almost half of it.

![Cryptocurrency Liquidations. Source: CoinGlass](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAxMzYyIDQ0MyIgd2lkdGg9IjEzNjIiIGhlaWdodD0iNDQzIiBkYXRhLXU9Imh0dHBzJTNBJTJGJTJGY3J5cHRvcG90YXRvLmNvbSUyRndwLWNvbnRlbnQlMkZ1cGxvYWRzJTJGMjAyNCUyRjEwJTJGU2NyZWVuc2hvdC0yMDI0LTEwLTE1LTE3MDgzOS5wbmciIGRhdGEtdz0iMTM2MiIgZGF0YS1oPSI0NDMiIGRhdGEtYmlwPSIiPjwvc3ZnPg==)

Cryptocurrency Liquidations. Source: CoinGlass

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