Bitcoin breaks $21,000 alongside $255m of 24-hour spot purchases

Bitcoin has surpassed the $21,000 mark.

BTC was worth $21,083 at 12:59 a.m. UTC on January 14, according to Coingecko data. Its market capitalization was $403 billion. This indicates a 12% growth in just 24 hours.

Bitcoin prices for Jan. 13-14 via CoinGecko (time in PST)

According to data, $245 million in shorts were liquidated in the last 24 hours, while $255 million in Bitcoin was purchased on spot markets today.

There are no noteworthy events that could have clearly boosted investor activity. Rather, shifting investor mood may be attributable to a lack of bad news, as well as the notion that huge catastrophes such as FTX's demise are becoming a thing of the past.

Furthermore, today's gains reflect continued growth over the last few days. Positive anticipation and sentiment surrounding a Consumer Price Index (CPI) report appears to contribute to Bitcoin's price gain this week.

The round figure of $20,000 also indicates a psychological barrier, and as such, investors may be encouraged that Bitcoin has overcome it.

Bitcoin normally leads the crypto market, and its success today contributed to the overall expansion of the crypto market. The whole crypto market cap has increased by 8% in the last 24 hours, reaching $1.02 trillion.

Today, Bitcoin and the entire cryptocurrency market outperformed the stock market. The Dow Jones rose 0.3% today, while the S&P 500 rose 0.4%.

However, when compared to Bitcoin, some altcoins have had modest development. Ethereum rose 9.8%, while XRP, BNB, and Polygon all gained around 6%. It remains to be seen whether the cryptocurrency market will continue to rise.

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