– The price of Bitcoin and Ethereum surged nearly 4% in a 15-minute window, leading to bullish predictions for October.
– Over $70 million in crypto shorts were liquidated after the sudden jump in prices.
– Bitcoin surged 3% from $27,100 to $28,053 before settling just below $28,000.
– Ethereum’s native currency, Ether, also experienced a spike, gaining 4.7% before leveling out.
– The sudden movement has left many in the community puzzled, with some speculating that “someone knows something.”
– “Uptober” refers to October being historically bullish for cryptocurrencies.
– October has only produced negative monthly returns twice since 2013.
– The potential approval of a spot Bitcoin exchange-traded fund is an event the market is looking forward to.
– Short sellers experienced losses, with over $70 million worth of shorts liquidated in just two hours.