• Bitcoin skyrocketed by double digits, reaching a two-month high of over $21,000.
• This impressive rally resulted in the liquidation of over $650 million in total positions, with almost $600 million of that being short positions.
• The start of the year has been quite favorable for the cryptocurrency market, with Bitcoin standing around $16,500 on January 1.

The cryptocurrency market has seen great success so far this year, with Bitcoin reaching a two-month high of over $21,000 in one of its most impressive rallies in about a year. This surge in Bitcoin’s value has resulted in the liquidation of over $650 million in total positions, with almost $600 million of that being short positions.

The cryptocurrency market was relatively quiet in the first few days of the year, with Bitcoin standing around $16,500 on January 1. It then began to slowly add value, breaking above $17,000 earlier this week. However, the real surge in Bitcoin’s value came in the following days, as it kept breaking into forgotten ground and eventually reached the $20,000 mark.

The success of Bitcoin has had a knock-on effect on other alternative coins, with many of them also seeing increased value. This resulted in the liquidation of over $650 million in total positions, the majority of which were from short positions.

This impressive rally in Bitcoin’s value has been welcomed by traders and investors alike, as it has provided a much-needed boost to the cryptocurrency market. The start of the year has been quite favorable for the cryptocurrency market, with Bitcoin reaching heights that have not been seen for some time. It will be interesting to see if this surge in value will continue in the coming weeks and months.