Bitcoin breaks $21,000 alongside $255m of 24-hour spot purchases

Bitcoin breaks above $21,000.

According to Coingecko data, BTC was valued at $21,083 at 12:59 AM UTC on January 14th. Its market cap was he $403 billion. This change represents a 12% increase over 24 hours.

The data also shows that $245 million of shorts were liquidated in the last 24 hours and $255 million of Bitcoin was bought in the spot market today.

There are no major events that could have had a clear positive impact on investor activity. Rather, the change in investor sentiment may be due to the lack of bad news and the fact that big crises like his FTX collapse are fading in the past.

Moreover, today’s rise in Bitcoin represents continued growth over the past few days. This week, positive expectations and sentiment for the release of the Consumer Price Index (CPI) appeared to contribute to Bitcoin’s price gains.

The $20,000 round number also represents a psychological barrier, so now that Bitcoin has crossed it, investors may be optimistic.

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Bitcoin typically leads the crypto market and its performance today contributes to the overall growth of the crypto market. The cryptocurrency market cap has risen 8% in the last 24 hours and currently has a market cap of $1.02 trillion.

Both Bitcoin and the entire crypto market outperformed the stock market today. Today the Dow Jones is up his 0.3% and the S&P 500 is up his 0.4%.

However, some altcoins have seen moderate growth compared to Bitcoin. Ethereum was up 9.8%, while XRP, BNB and Polygon were up nearly 6% each. Whether the crypto market will continue its upward trend remains to be seen.