Bitget Futures Market Updates-Bitcoin Hits $52K, Regains $1T Market Cap
Bitget2024/02/19 05:22
coin_news.by:Bitget
On February 14, Bitcoin surged to $52,000, reclaiming a $1 trillion market capitalization for the first time in 26 months.
The largest and oldest
cryptocurrency ignored a drop below $50,000 the day before, as hotter-than-expected U.S. inflation data came out and allowed it to experience a major price increase during trading hours in Europe. CoinDesk's
Bitcoin Price Index data indicates that Bitcoin has closed above $50,000 only 145 times in its history, and this was one of them.
This rally propelled Bitcoin's market value back above $1 trillion, marking its return to this milestone since December 2021. Bitcoin's 4.7% gain over 24 hours mirrored the broader market's advance reflected in the CoinDesk20 Index. Altcoins like
Cardano's ADA and
Dogecoin (DOGE) surged 6%, while Ether (ETH) climbed over 5% to reach $2,750, its highest level since May 2022. Market sentiment remains bullish, with options traders speculating that Bitcoin could reach $75,000 in the near future, and some targeting the $64,000 mark as demand for spot
Bitcoin ETF products increases.
Futures Market Updates
Bitcoin futures saw a drop in trading volume, whereas Ether futures experienced an increase. ETH surpassed BTC in both liquidation amounts and
funding rates, although both
markets maintained a balanced long/short ratio. Short liquidations were higher than long liquidations for both BTC and ETH.
Bitcoin Futures Updates
Total BTC Open Interest: $23.80B (+0.65%)
BTC Volume (24H): $32.36B (-26.25%)
BTC Liquidations (24H): $3.65M (Long)/$17.66M (Short)
Long/Short Ratio: 50.86%/49.14%
Funding Rate: 0.0173%
Ether Futures Updates
Total ETH Open Interest: $10.33B (+5.01%)
ETH Volume (24H): $20.10B (+22.97%)
ETH Liquidations (24H): $4.62M (Long)/$18.20M (Short)
Long/Short Ratio: 50.56%/49.44%
Funding Rate: 0.0189%
Top 3 OI Surges
IOTX: $23.82M (+164.14%)
GAL: $32.27M (+89.20%)
WSM: $537.58K (+64.28%)
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