Bitcoin’s price went on a roll throughout the past few days, and it even tried to reclaim the $45K level. It has so far been unsuccessful in doing so, but the overall market sentiment has shifted considerably. Throughout the past 24 hours, the total capitalization increased by about $50 billion and managed to reclaim the $2 trillion mark.
Bitcoin Topped $45K But Failed to Sustain
Bitcoin’s price managed to surge above $45K a few hours ago and reached as high as $45,500 on Bitstamp. It’s worth noting that this marked a 30-day high as the last time it was trading at these levels was back on January 5th.
With this said, the price was also unable to sustain at these levels and has since retraced below $44K. Still, the cryptocurrency is up 2.7% in the past 24 hours. The volatility, however, has had its toll and left some $305 million worth of liquidated positions in the same period. The largest single liquidation order took place on OKEx. It was a BTC/USDT position with a face value of $3.6 million.
Somewhat expectedly, the majority of liquidations were of short positions, and most of them took place on Binance, OKEx, and Bybit.
Total Market Cap Reclaims $2 Trillion
Crypto bulls managed to achieve another important milestone throughout the past 24 hours by reclaiming the coveted $2 trillion mark for the total market capitalization. This comes on the backs of the recent gains in BTC as well as some altcoins.
Avalanche is one of the more notable performers from the top 10, as AVAX surged by about 6.5% in the past 24 hours. Shiba Inu (SHIB) continues to rip and is up 17% in the same period. MATIC is also up about 8%. Other leading altcoins, however, failed to follow up.
Solana lost about 3% – the same as Polkadot. Ethereum remained more or less flat throughout the day, which is also true for BNB. KDA is the biggest winner with a 20% daily surge, whereas QNT is down the most – about 8%.
This allowed for Bitcoin’s dominance over the market to increase by about 0.5% in the past 24 hours.
