Bitcoin (BTC) and Aptos (APT) Lead Crypto Market’s Morning Rise

The early morning crypto market on January 26th bounced up unexpectedly after a series of days of little volatility, led by Bitcoin (BTC) and Aptos (APT).

Price movement of top cryptocurrencies in the market at 08:35 AM on 26/01/2023. Source: Coin360

Specifically, from 0 am, the price Bitcoin (BTC) gradually regained its upward momentum before continuously showing green candles and peaking at $23,816, up 6.8% from the 24-hour low of $22,300, before correcting slightly back to $23,200 in update time.

This is also the highest price of Bitcoin in 2023 and the highest since August 2022, ending the 4-day chain of this coin only moving sideways in the area of ​​​​22,000 USD – 22,300 USD.

1h graph of BTC/USDT pair on Binance exchange at 08:35 AM on 26/01/2023

With the current value threshold, BTC is recording the best January growth since 2013, opening the prospect of this currency continuing to recover when February is usually a “good” time in history. Bitcoin.

Bitcoin price movement by month. Source: Coinglass

There is still no specific reason to trigger Bitcoin’s latest surge coming from the cryptocurrency market. At the macro-geo-political level, the remarkable news in the past 24 hours is that Western countries such as the US and Germany are constantly announcing that they will provide tank aid to Ukraine, threatening to escalate the war between the two countries. this country with Russia.

Another name that can’t be missed in the past day is Aptos (APT) when the layer-1 altcoin in the last 7 days has increased from 7.6 USD to 19.4 USD, or 155%. The $ 19.4 mark is also the latest high of Aptos in history, if you accept to ignore the floor list prices to $ 60-100 that APT set in mid-October 2022. Since the beginning of 2023, the price of APT has increased more than 6 times.

1D graph of APT/USDT pair on Binance exchange at 08:35 AM on 26/01/2023

Similar to BTC, the new rally of APT also comes from market sentiment instead of a specific news, because Aptos has not had any new notable updates in the past time.

Meanwhile, the majority of other high-cap altcoins have seen 24-hour gains in the range of 5-10%, with the “top” names being the projects that announced the news on the evening of January 25. such as Injective (INJ) or dYdX (DYDX).

The amount of derivative orders liquidated in the last 24 hours reached 175 million USD, concentrated in BTC, ETH and APT, with 72% being short orders.

The value of cryptocurrencies liquidated in the last 12 hours, data taken from Coinglass at 08:35 AM on January 26, 2023

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