No products in the cart.
The bear market rally that puzzled many in the cryptocurrency industry continued into the weekend as Bitcoin hit $23,230 for the first time since August 2022.
Bitcoin holds a leading position among global assets above the major asset classes. In addition, 2023 saw growth in several sectors as inflation began to decline. Gold and the S&P 500 are up 19% and 13% respectively since their November lows.
Over the last 24 hours, the market has seen over $387 million in cryptocurrency liquidations, mostly related to BTC and ETH, bringing the total to $165 million.
Short positions have dominated liquidations throughout this bear market rally. However, it cannot be said that long positions are completely safe. Frequent retracements at key resistance levels have caught the bulls off guard as Bitcoin continues to rise. For example, on Jan. 18 and he on Jan. 21, BTC Long liquidated above his $30 million.
Ethereum performed similarly to Bitcoin throughout 2023, jumping from a November low of $1,074 to $1,647 after the FTX collapse.
At the time of press, Bitcoin ranks first in terms of market capitalization, and the price of BTC is Up 8.87% Within the last 24 hours. The market capitalization of BTC is $445.52 billion 24 hours trading volume $37.46 billion. Learn more >
YOU MAY ALSO LIKE
Bitcoin on-chain analytics
Market overview
At the time of press, the global cryptocurrency market is valued at $1.05 trillion 24 hours volume $71.97 billionBitcoin dominance is now 42.38%. Learn more >
