Bitcoin returns to the $120,000 mark, leading to nearly $400 million in liquidation.

[Bitcoin Reaches $120,000 Mark, Leading to Nearly $400 Million in Liquidations] Bitcoin surged above $120,000 in the early hours, marking its highest level since August, and triggering nearly $400 million in liquidations over the past 24 hours. Data shows that approximately $282 million came from short positions, while $120 million came from long positions, primarily in Bitcoin and Ethereum. Since the beginning of this week, the largest market capitalization crypto asset has risen by over 7%. Traders are closely watching the performance in the fourth quarter, as historically, October has been one of the strongest months for Bitcoin, with an average return rate of 21%. Market participants are adjusting positions to see if the current rising trend can continue into the final quarter.