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Bitcoin (BTC) surged even higher on Oct. 6 as its spot price saw a sudden surge upward to over $55,000, its highest since May 12.

Bitcoin fully cancels out China mining rout
Data from Cointelegraph Markets Pro and TradingView shows BTC/USD hurtling to $55,500 on Oct. 6.

The level beats a previous line in the sand for bulls at $53,000, which Bitcoin reached and then reversed nearby during its previous uptick in early September.

Amid various calls for $57,000 to be hit in the short term, however, futures markets fluctuated in step with aggressive volatility.

CME Group Bitcoin futures, previously trading a full $400 above the spot price, were overtaken during the abrupt breakout.

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