Bitcoin briefly soars beyond $25k; $232M in shorts liquidated News ▸ Bitcoin ▸ Price Watch
Bitcoin briefly soars beyond $25k; $232M in shorts liquidated
Bitcoin's (BTC) price soared beyond $25,000 for the first time since June 2022 — peaking at $25,104, according to CryptoSlate's data.
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Updated: Feb. 16, 2023 at 5:42 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Bitcoin’s (BTC) price soared beyond $25,000 for the first time since June 2022
The flagship digital asset has retraced to $24,816 at the time of writing.
BTC started the year strong when it gained around 39% in January. At the time, BTC soared from around $16,000 to over $23,000.
The rally appears to have continued in the current month, with BTC breaking the $24,000 barrier twice in the last two weeks.
Meanwhile, Bitcoin has outperformed other assets like NASDAQ, Gold, and S&P 500 in 2023. While BTC has rallied by around 50%, the other best-performing asset is NASDAQ, which has risen by about 20% during the same period.
Over $200M liquidated from short sellers
Bitcoin’s rally has liquidated roughly $100 million from short sellers, according to Coinglass data.
Total liquidations over the last 24 hours stood at $233.95 million as of press time. Of these liquidations, 65.18% occurred on traders who took short positions on the market, according to Coinglass data.
During this period, 60,8144 traders were liquidated — the most significant liquidation being a $2.54 million short position on BTC.
Meanwhile, BTC’s favorable price positively influenced other digital assets in the “Top 10.” Ethereum (ETH) increased 8.71% to $1,716, and Binance’s BNB token (BNB) rose 6.85% to $322.
Ripple’s XRP token (XRP) was up 3.59%, Cardano (ADA) gained 4.1%, Dogecoin (DOGE) was up 5.23%, and Polygon (MATIC) grew 11.58%.
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Posted In: Bitcoin, Price Watch
Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Ethereum
$3,067.05
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Cardano
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Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source.
Dogecoin
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Dogecoin is a cryptocurrency created in December 2013 as a joke by software engineers Billy Markus and Jackson Palmer.
Polygon
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Polygon, a prominent layer 2 scaling solution on Ethereum, has emerged as a multifaceted and scalable platform, enhancing the Ethereum ecosystem’s capabilities.
XRP
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The XRP Ledger is a decentralized cryptographic ledger powered by a network of peer-to-peer servers.
