– Bitcoin has broken $21,000, with its market cap now at $403 billion.
– Over the past 24 hours, $245 million of shorts have been liquidated, while $255 million of Bitcoin was bought on spot markets.
– Positive anticipation and sentiment toward a Consumer Price Index announcement may have been contributing factors to Bitcoin’s price growth.
Bitcoin, the world’s leading cryptocurrency, has seen a tremendous rally in the past several days, breaking the $21,000 mark and showing no signs of slowing down. According to Coingecko data, BTC was valued at $21,083 at 12:59 a.m. UTC on Jan. 14, with its market cap now at $403 billion. This represents a 12% increase in value over the past 24 hours, leaving investors optimistic about the future of the asset.
The impressive growth of Bitcoin is further highlighted by the fact that over the past 24 hours, $245 million of shorts have been liquidated, while $255 million of Bitcoin were purchased on spot markets. This surge in demand appears to be driven by a lack of bad news, as well as the fading of major crises such as FTX’s collapse. Furthermore, the round number of $20,000 is thought to have acted as a psychological barrier, as investors may have been eager to break it.
Positive anticipation and sentiment towards a Consumer Price Index (CPI) announcement may also have been contributing factors to this growth. The entire crypto market, which Bitcoin tends to lead, was also up 8% over the last 24 hours, now boasting a market cap of $1.02 trillion. This outperforms the stock market, with the Dow Jones increasing by only 0.3%.
It is clear that Bitcoin’s growth has been nothing short of remarkable, and with the asset showing no signs of slowing down, it is likely that the crypto market will continue to see impressive gains in the near future. With such positive investor sentiment, it is possible that Bitcoin may even break the $22,000 mark in the coming days.