Bitcoin price exceeds $46,000 and causes more than $100 million to be liquidated

Bitcoin's recent performance indicates a potential turnaround after a period of stagnation, as the currency has seen significant gains over the past 48 hours.

In this period, the value of Bitcoin (BTC) increased by more than $3,000, resulting in an increase in daily liquidation volume to exceed $100 million.

The leading digital currency took a hit after the US Securities and Exchange Commission approved about a dozen spot ETFs on January 10, especially one day after trading began.

Over the next two weeks, Bitcoin saw its value fall by more than $10,000, hitting a low of $38,500 on January 23.

Then, the bulls began to emerge again, pushing the price of Bitcoin to $43,000, where the price of the coin had stabilized for more than a week.

After this unusually flat period, Bitcoin's value has begun to rise again, surpassing $45,000 for the first time since the Bitcoin ETF was approved.

The last 12 hours have been particularly positive, with the coin hitting a new high of over $46,000.

Altcoins also saw notable gains during this period, with SOL and ADA tokens.

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