Bitcoin surpasses $23.5k, approaches $24k

The price of Bitcoin rose above $23,500 at 4 p.m. UTC on Jan. 29. That value brought the asset’s market cap above $452 trillion.

The change represents a 3.65% increase from the asset’s lowest value today ($22,157). Bitcoin’s price gained nearly $1,350 by that measure.

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Today’s movement represents a five-month high, as the crypto asset is approaching $24,000 for the first time since August 2022.

Bitcoin additionally saw $32 million in total liquidations, over 75% short liquidations.

Ethereum, meanwhile, is up 5,7% over 24 hours, while the entire cryptocurrency market is up a more modest $40 billion over the same period. The global crypto market cap has now remained over $1 trillion for eight consecutive days, the longest time since June 2022.

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