TL;DR
As it typically happens when BTC goes hard in either direction, a certain cohort of over-leveraged traders feel the pain.
The primary cryptocurrency soared past $45,000 for the first time in almost two years, leaving more than $140 million worth of liquidations on a daily scale.
Bitcoin’s price stood still for over a week at around $42,000 and even slipped below that level on a few occasions. This was all happening while many altcoins were soaring and reduced BTC’s dominance over the market.
The New Year started on a similar note but quickly changed. BTC went on the offensive hard on Monday evening and shot up above $43,000. That was just the start of the impressive rally, which kept going in the early hours of Tuesday.
This culminated in a surge to $45,500, which means that the cryptocurrency is up by roughly 7% over the past 24 hours. This price tag has not been reached since early April 2022.
The massive surge in BTC’s price has not only increased its market capitalizat
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