Crypto Market Cap Revisits $2T, Bitcoin Soars Above $45,000

Time Stamp: February 8, 2022 2:45 PM
Source Node: 1168881

The crypto market cap revisits the $2 trillion level while bitcoin soared above $45,000 over the past 24 hours as we can see further in our latest crypto news.

Bitcoin’s price went on a tear and tried to reclaim the $45,000 level but it has been unsuccessful so far in doing so. However, the crypto market cap revisits the $2 trillion price tag as it shifted considerably. The total market cap increased by about $50 billion overnight. Bitcoin’s price managed to soar above $45,000 for a few hours but it is worth noting that this marked a 30-day high which was set the last time in January.

tradingviews
Chart by TradingView

With that being said, the price was unable to sustain the levels and retraced below $44,000 but still, it is up by 2.7% over the past day. The volatility however had its toll and left about $305 million worth of liquidated positions in the same period. The biggest single liquidation order happened on Okex and it was a BTC/USDT position with a value of $3.6 million. The majority of the liquidations were of short positions and most of them happened on ByBit, Okex, and Binance. The crypto bulls managed to achieve a huge milestone in the past 24 hours by reclaiming the $2 trillion market for the total market cap which comes on the back of the recent gains in BTC as well as in some other altcoins.

matic
MATIC 24-hour Price Chart (Source: Coingecko)

Avalanche is one of the most notable performers from the top 10 as AVAX surged by 6.5% in the past day and SHIB continues to rip ahead and it is up by 17% in the same period. MATIC increased by 8% and other leading altcoins followed. However, some of them failed to follow up. One such example was Solana which lost about 3% of the value and Polkadot was in the same situation. Ethereum remained flat most of the day which was also the case with Binance Coin. KDA is the biggest winner as it increased by 20% and ONT dropped the most which is about 8%. this allowed for Bitcoin dominance on the market to increase by 0.5% over the past day.

Time Stamp:

More from DC Forecasts