After Bitcoin (BTC) started its worst year since the end of 2021, we started to see a recovery from last night.

The price of leading digital assets has risen from $33,000 at the end of January to $41,000 on Feb. 5, especially as some analysts speculate that some market indicators are showing signs of reversal. Historical data predicts a return of more than $40,000.

However, in the previous 24 hours, 72,700 short traders had to liquidate their portfolios. According to Coinglass, the total loss was $270.8 million.

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The most liquidated coin was bitcoin, worth $106.36 million, while ethereum came in second with $69.98 million.

Bitcoin above $41,000

Bitcoin is currently trading at $41,432, up 9.17% in the last 24 hours and 9.53% in the last 7 days.

With the price of bitcoin topping $40,000, the market is more active than it was a few weeks ago. And since hitting a six-month low in late January, BTC has risen more than 25%.

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Bitcoin was the most mentioned cryptocurrency on Twitter this week with 31,348,852 million mentions as sentiment about it continues to grow.

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It kind of feels like the market is trapping everyone in here.

– Short positions were liquidated over the weekend. – People are very eager for #Bitcoin’s downtrend to break. -Cottage coins are falling in $BTC pairs.

Global Cryptocurrency Market

Total market capitalization cryptocurrency according to CoinMarketCap, totaled $1.9 trillion, up 7.76% from the previous day.

Total cryptocurrency market volume increased 36.30% to $94.8 billion in the last 24 hours.

Meanwhile, DeFi's total value is $13.0 billion. This represents 14.00% of the last 24 hours of trading volume.