Bitcoin Breakage Took Place
On Thursday, the price of bitcoin rose more than 3% and briefly traded above $19,000 for the first time in eight weeks. After breaking above the December high of around $18,353, the parent coin traded around $18,836 in the first trading session in Asia. For the first time since the FTX fiasco, the price of Bitcoin exceeded $19,000, driven by the CPI data.
On Thursday, the price of bitcoin rose more than 3% and briefly traded above $19,000 for the first time in eight weeks. After breaking above the December high of around $18,353, the parent fund traded for around $19,292 in the first trading session in Asia. The release of new data for the Consumer Price Index (CPI) in the United States on January 12 coincides with the high market volatility for Bitcoin and other cryptocurrencies. The consumer price index for December was unchanged, as reported by the Bureau of Labor Statistics; This shows that inflation in the United States is stable at 6.5%.
A positive reaction from the bitcoin and altcoin markets followed a decline in the value of the US dollar. According to the data collection provided by Coinglass, more than $80 million in small transactions have been lost in the Bitcoin market in the last 24 hours. Apparently, about 38,245 traders lost their positions in the last 24 hours, and the total value of all liquid crypto assets was $204.77 million.
On the OKX cryptocurrency exchange, a transaction involving the ETH-USDT exchange worth about $2.31 million was the event that led to the highest liquidation sequence. The increase in the price of the cryptocurrency came after it was revealed that the authorities of FTX are ready to collect about $5 billion to pay the creditors.
According to data collected from transactions within the chain, Solana and SPL tokens are the most involved in fraudulent SBF transactions. During Wednesday’s hearing in Delaware on Wednesday, FTX’s attorney named Andy Dietderich revealed that his company has discovered more than $5 billion in cash, liquid bitcoin and liquid assets.
Get notified of all the news instantly by following the Crypto Mag Telegram channel!
Since the collapse of FTX and Alameda, the value of bitcoin is now over $939 billion for the first time. This was done by increasing the price of bitcoin by 13% since the beginning of the year.
Our latest crypto market cap shows that the overall Bitcoin market cap is currently around $362,146,594,951 and its 24-hour market cap is around $43,964,939,526. Santiment says that the Bitcoin whale was the main factor that contributed to the latest rise above $19,000.
Aptos (APT) has made the top 100 crypto assets by market capitalization, growing around 20% in the last 24 hours to trade at around $6.39. This puts APT in the first place. With markets set to close later today, volatility in the cryptocurrency space is expected to increase over the weekend as many traders try to avoid FOMO. Meanwhile, the community around the cryptocurrency exchange Gemini was surprised when the SEC filed a lawsuit regarding its Earn program.
“It is unfortunate that the SEC chose to act today as Gemini and other creditors are working hard to try to recover money. This decision does nothing to further our efforts or help employees recover their lost assets.”