Bitcoin (BTC) price has crossed $25,000 for the first time since June 2022.
The flagship’s digital assets are back at $24,816 at the time of writing.
BTC has had a strong year, rising around 39% in January. At that time, BTC surged from around $16,000 to he over $23,000.
The rally appears to have continued this month, with BTC breaking the $24,000 barrier twice in the past two weeks.
Bitcoin, on the other hand, Outperform Other assets such as the Nasdaq, Gold and the S&P 500 in 2023. While BTC rose by around 50%, the other best performing asset was the Nasdaq, up around 20% over the same period.
Over $200 million liquidated from short sales
Nearly $100 million has been liquidated from short sales due to Bitcoin’s rally, according to Coinglass data.
The total liquidation volume over the last 24 hours was $233.95 million at the time of writing. According to Coinglass, 65.18% of these liquidations occurred with a trader who took his position short in the market. data.
During this period, 60,8144 traders were liquidated. The most significant liquidation is his $2.54 million short his position in BTC.
Meanwhile, BTC’s favorable price positively impacted other digital assets in the ‘Top 10’. Ethereum (ETH) rose 8.71% to $1,716 while his BNB token (BNB) on Binance rose 6.85% to $322.
Ripple’s XRP token (XRP) rose 3.59%, Cardano (ADA) 4.1%, Dogecoin (DOGE) 5.23% and Polygon (MATIC) 11.58%.
