Bitcoin recovers to $49.7k after failing to find support above $50k Bitcoin recovers to $49.7k after failing to find support above $50k
BTC previously reached its highest price since 2021 on Monday.
1 min read
Updated: Feb. 14, 2024 at 8:30 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Bitcoin (BTC) saw its price recover above $49,700 on the evening of Feb. 13 — closing in on its earlier daily high.
As of 9:50 pm UTC, Bitcoin was priced at $49,726. Though Bitcoin is down 0.4% over 24 hours, that price represents 0.7% growth over 1 hour and 2.8% growth from its daily low.
Bitcoin’s $49,726 price notably represents a partial recovery to $50,000, a milestone it surpassed on Monday for the first time since December 2021. After touching $50,240 for the last time at 10:00 am, BTC fell by 3.7% to $48,385 over several hours.
Bitcoin responsible for 43% of hourly liquidations
Bitcoin was responsible for much of the crypto market’s $6.48 million liquidations over the past hour. BTC’s $2.81 million in liquidations accounted for about 43% of that total, while Ethereum’s $1.83 million accounted for another 28%.
The overall total is primarily made up of short liquidations. Short liquidations accounted for $6.24 million, while long liquidations accounted for the remaining $227,000.
Bitcoin ETF volume reached $1.93B
Finally, the Bitcoin ETF market saw $1.93 billion in volume today. Spot Bitcoin ETFs (as opposed to Bitcoin futures ETFs) accounted for $1.56 billion of that volume. Funds from Grayscale, BlackRock (iShares), and Fidelity reported the three largest volumes.
Bitcoin Market Data
At the time of press 8:30 am UTC on Feb. 14, 2024, Bitcoin is ranked #1 by market cap and the price is down 0.47% over the past 24 hours. Bitcoin has a market capitalization of $977.66 billion with a 24-hour trading volume of $34.09 billion. Learn more about Bitcoin ›
Crypto Market Summary
At the time of press 8:30 am UTC on Feb. 14, 2024, the total crypto market is valued at at $1.87 trillion with a 24-hour volume of $73.94 billion. Bitcoin dominance is currently at 52.30%. Learn more about the crypto market ›
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Author 
Mike Dalton
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada's West Coast.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
The BlackRock Bitcoin ETF, known as the iShares Bitcoin Trust (IBIT), is an investment fund that provides regulated exposure to Bitcoin for investors.
The Grayscale Bitcoin Trust (GBTC) is a digital currency investment product that provides investors with access to Bitcoin through traditional investment channels.
The Fidelity Wise Origin Bitcoin Trust (FBTC) is a spot Bitcoin ETF that offers investors exposure to the price of Bitcoin.