Bitcoin price exceeded $50 thousand for the first time in two years
13.02.24
On Monday, February 12, the Bitcoin cryptocurrency for the first time in more than two years reached a value of $50 thousand.
However, selling pressure on exchanges stopped further growth. Bitcoin spot exchange-traded funds (ETFs) conducted significant trading volumes in the US market, causing the price of Bitcoin quickly grew from $48 thousand to $50 thousand.
The CD20 index of the largest cryptocurrencies gained 1.72% in 24 hours. However, after the Bitcoin price reached $50,301, a price correction began. Spot sell orders on cryptocurrency exchanges Binance and Coinbase overcame buying pressure and stopped the uptrend, at least temporarily.
Order data from Binance shows a sell order of 800 BTC ($40 million) at $50,000, while Coinbase recorded a sell order of 330 BTC, indicating significant profit taking at that level.
In general, Bitcoin reached in December 2023 new high for 2023increasing 1.42% to $37,862 on the day and 3.9% for the full week.
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