Bitcoin surpasses $23.5k, approaches $24k

The price of Bitcoin rose above $23,500 at 4 p.m. UTC on Jan. 29. That value brought the asset’s market cap above $452 trillion.

The change represents a price increase of 3.65% over 24 hours.

It also represents a 5.3% increase from the asset’s lowest value today ($22,157). Bitcoin’s price gained nearly $1,350 by that measure.

Today’s movement represents a five-month high, as the crypto asset is approaching $24,000 for the first time since August 2022.

Bitcoin additionally saw $32 million in total liquidations, over 75% short liquidations.

Ethereum, meanwhile, is up 5,7% over 24 hours, while the entire cryptocurrency market is up a more modest $40 billion over the same period. The global crypto market cap has now remained over $1 trillion for eight consecutive days, the longest time since June 2022.

Journalist at CryptoSlate

Mike trained in library and information sciences before moving into crypto writing in 2018. He lives on the West Coast of Canada.