Bitcoin (BTC) saw its price recover above $49,700 on the evening of February 13, approaching its previous daily high.
As of 9:50 PM UTC, Bitcoin was priced at $49,726. Although Bitcoin is down 0.4% in 24 hours, that price represents 0.7% growth over 1 hour and 2.8% growth from the daily low.
Bitcoins $49,726 Notably, the price represents a partial recovery to $50,000, a milestone it surpassed on Monday for the first time since December 2021. After touching $50,240 for the last time at 10 a.m., BTC fell 3.7% to $48,385 over several hours.
Bitcoin is responsible for 43% of liquidations per hour
Bitcoin was responsible for a large portion of the crypto market’s liquidations worth $6.48 million in the past hour. BTC’s $2.81 million in liquidations accounted for about 43% of that total, while Ethereum’s $1.83 million accounted for another 28%.
The overall total consists largely of short liquidations. Short liquidations accounted for $6.24 million, while long liquidations accounted for the remaining $227,000.
Bitcoin ETF volume reached $1.93 billion
Finally, the Bitcoin ETF market saw volume of $1.93 billion today. Spot Bitcoin ETFs (as opposed to Bitcoin futures ETFs) accounted for $1.56 billion of that volume. Funds from Grayscale, BlackRock (iShares) and Fidelity reported the three largest volumes.
The post Bitcoin Rebounds to $49.7k After Failing to Find Support Above $50k first appeared on CryptoSlate.