The price of Bitcoin crossed the $21,000 mark on the morning of Saturday, January 14. During the 12% price increase in the last 24 hours, the market value of this cryptocurrency reached 403 billion dollars.
According to Valx and quoted by Cryptoslate, the data shows that during the last 24-hour period, short orders with a value of about $245 million were liquidated, and $255 million worth of bitcoins were bought in the spot market.
No important event can be mentioned as the driving factor of this wave of price increase. It seems more likely that the change in investors’ sentiments is due to the lack of bad news, and crises such as the fall of the FTX exchange are becoming history.
In addition, the increase in the price of Bitcoin in the past day was part of a multi-day trend. Some in Bitcoin analysis point to the positive effect of the Consumer Price Index (CPI) in price growth.
Crossing the $20,000 level was very important. This rand number was a very important and effective psychological barrier in the path of price improvement.
Bitcoin is usually the driver of other digital currencies and its positive performance in recent days has contributed to the overall growth of the market. The market cap of the digital currency market, with an increase of 8%, now exceeds 1 trillion dollars.
The crypto market had a better return than the stock market in the recent day and night. Dow Jones and S&P 500 index grew by 0.3 and 0.4%, respectively.
However, some altcoins grew less than Bitcoin. Ethereum was up nearly 10%, while Binance Coin, Ripple, and Polygon were up nearly 6% each. We have to wait and see if the market will continue its upward trend or not.
Bitcoin price crossed the $21,000 mark for the first time in Wallex blog. appeared.
