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Bitcoin surpassed the $50,000 level

Bitcoin: Bitcoin surpassed the $50,000 level

On the night of February 13, 2024, the bitcoin price passed the $50,000 mark, reaching $50,368 at its peak. Bitcoin is currently looking for support at this level.

As a result of this significant jump, bitcoin's dominance in the cryptoasset market has reached a localized peak, the highest since the beginning of 2024. At the time of writing, the dominance level stands at 53.8%.

Bitcoin surpassed the $50,000 level
BTC to USDT exchange rate. Source: CoinMarketCap

The total value of liquidations between February 12 and February 13, 2024 exceeded a staggering $185 million. Most of these losses came from short positions.

In addition, most of the top 10 crypto assets also saw notable increases. The increases ranged from 2 to 8%.

The Fear and Greed Index rose nine points overnight, a 17-point increase from the previous week.

It is worth noting that halving is approaching, with less than 10,000 blocks to go. This long-awaited event is expected to occur in April 2024.

Some experts, including analysts at Grayscale Investments, predict further bitcoin growth that will continue after #halving.

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