Bitcoin reclaimed the $83,000 level on October 20, hitting a daily peak of $83,335 and triggering $45 million in short position liquidations. This surge successfully pushed the cryptocurrency back into its rising channel after a month of sideways price action. However, technical concerns remain regarding a series of lower highs that could potentially hinder the breakout path.
Total crypto short liquidations surged as the market sentiment gauge hit 63 following Bitcoin's daily peak of $83,335 on October 20.
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