In a dramatic turn for the cryptocurrency market, Bitcoin reached a new all-time high of $75,000 on November 6, 2024, prompting significant liquidations of short positions. Over the past 24 hours, more than $466 million was wiped out, with short sellers facing liquidations totaling approximately $355 million. Notably, three major short liquidations were reported: $10.4 million on November 5, $74.98 million and $36.48 million on November 6, and an additional $12.74 million on November 7. The surge in Bitcoin's price coincided with increased activity from large investors, or 'whales,' who purchased 1,806 BTC worth $132 million from Binance, fueled by speculation surrounding a political event. This bullish sentiment has led to expectations of Bitcoin potentially reaching $80,000 by the end of December.