Bitcoin new start in the 47000$
On February 9th, the cryptocurrency market saw a surge in major positions. Bitcoin initially jumped to $46,000 and then tested the $47,000 level. Ethereum, on the other hand, surpassed the $2,500 mark. The Fear and Greed Index increased by six points within a day.
On February 9, 2024, the price of Bitcoin tested the $47,000 mark, but then retraced. This marked the second price jump within the last day. Meanwhile, Ethereum broke through the $2,500 mark.
At the time of writing, Bitcoin is trading at $46,943, according to TradingView. At one point, the price of Bitcoin reached $47,019:
The BTC/USDT exchange rate on the Binance exchange. Source: TradingView.
It is worth noting that earlier on February 9, the coin’s price surpassed the $46,000 mark. Against this backdrop, both the dominance of the asset and the Fear and Greed Index increased significantly.
Ethereum, meanwhile, is currently trading at $2,503:
The ETH/USDT exchange rate on the Binance exchange. Source: TradingView.
The Bitcoin dominance indicator approached its maximum level since the beginning of January 2024 amidst this surge:
Bitcoin dominance indicator in the cryptocurrency market. Source: TradingView.
The volume of liquidations on futures contracts in the cryptocurrency market exceeded $134 million, with nearly $100 million accounted for short positions:
Volume of liquidations on futures contracts in the cryptocurrency market. Source: CoinGlass.
Amidst Bitcoin’s latest surge, all assets in the top 10 by market capitalization experienced growth, according to CryptoRank:
Top 10 cryptocurrencies by market capitalization. Source: CryptoRank.
The Fear and Greed Index remained unchanged, with a six-point increase from February 8th to 9th, 2024:
Fear and Greed Index in the cryptocurrency market. Source: CoinStats.
Earlier, we covered the forecast by Bernstein experts who predicted a potential rise in Bitcoin miner stocks ahead of the halving event.
