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%.
The SEC vs. Paxos: A deep dive into the implications of the lawsuit and its effects on stablecoins
The SEC’s notice to Paxos to stop minting BUSD could have longstanding implications on the crypto market. CryptoSlate’s new report explores the recent and potential consequences of enforcement action against Paxos.

