Bitcoin briefly surpassed $21,000 on Jan. 13 for the first time since the FTX saga started in early November. After a slight retracement early on Saturday morning, BTC is priced at $20,800 as of press time.
$255m of spot Bitcoin was bought on Jan.13, while the liquidation of $240 million Bitcoin shorts liquidated sent Bitcoin to a high of $21,300.
Across the broader crypto market, there were a total of $721 million in liquidations over the past 24 hours, according to Coinglass data. In addition, a total of 132,021 traders were liquidated, with the most significant liquidation being a $6.84 million short bet against Bitcoin.
![Bitcoin Total Liquidations](https://cryptoslate.com/wp-content/uploads/2023/01/image-8-1024x220.png)
Interestingly, while there have been plenty of BTC purchases over the past day, the volume of Bitcoin leaving exchanges hit an early year-to-date high. Most exchange-purchased Bitcoin was withdrawn almost immediately as $255 million of Bitcoin moved into self-custody.
![btc exchange volume](https://cryptoslate.com/wp-content/uploads/2023/01/glassnode-studio_bitcoin-net-transfer-volume-from-to-exchanges-breakdown-by-size-usd-all-exchanges-3-1024x576.png)
Most withdrawals were made in large installments of $1 million and above. Further, the biggest group was those withdrawing over $10 million of BTC, suggesting institutional action.
Bitcoin continued to leave exchanges overnight on Jan. 13 as the total value of Bitcoin held on exchanges dropped to just 2.24 million BTC.
![btc exchange balance](https://cryptoslate.com/wp-content/uploads/2023/01/image-7-1024x576.png)
At the time of press, Bitcoin is ranked #1 by market cap and the BTC price is up 10.47% over the past 24 hours. BTC has a market capitalization of $402.53 billion with a 24-hour trading volume of $45.41 billion. Learn more ›
Market summary
At the time of press, the global cryptocurrency market is valued at at $980.04 billion with a 24-hour volume of $90.55 billion. Bitcoin dominance is currently at 41.07%. Learn more ›
Source: https://cryptoslate.com/700m-liquidated-as-bitcoin-touches-21k-amid-weekend-pump/