Nearly $400M in crypto liquidations over 24 hours pushes Bitcoin above $23k 
Quick Take:
- The crypto market has recorded nearly $400 million in liquidations in the past 24 hours. BTC briefly surpassed $23k.
- Only 11.7% of all BTC supply now sits on exchanges, the lowest amount since December 2017.
- Almost $500 million in Bitcoin has been withdrawn from exchanges in the past 24 hours.
- However, Ethereum has only seen around $100 million withdrawn from exchanges in the past 24 hours.
![Bitcoin: Net Transfer Volume from/to Exchanges Breakdown by Size (USD] - All Exchanges](https://cryptoslate.com/wp-content/uploads/2023/01/glassnode-bitcoin-1.jpg)
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
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