After a ten-day price decline, Bitcoin (BTC) has finally shown a recovery. The exchange rate of the first and most popular cryptocurrency in the world rose above $43,000 on the evening of January 29, paired with the Tether USD (USDT) stablecoin on the Binance exchange. At the time of 20:00 Moscow time, bitcoin was trading at the level of $43,130.

This growth came after the maximum value of the bitcoin price in January reached $48.9 thousand and the peak level was recorded on January 11. This day was also the first day of the launch of trading of spot bitcoin ETFs on exchanges. However, since then, the price has gradually declined, reaching the $38.6 thousand mark, before starting its growth again.

Against the background of this bitcoin recovery, some other cryptocurrencies from the top 10 by capitalization also showed growth. Cardano (ADA) and Dogecoin (DOGE) repeated the dynamics of bitcoin, while Ethereum (ETH), the second largest cryptocurrency, traded at the level of the beginning of the day. The Solana (SOL) token has outpaced bitcoin in terms of growth rate, returning to above $100 with a daily growth of about 4%.

The sharp rise in the price of bitcoin also caused the massive liquidation of short positions of traders on crypto exchanges. According to Coinglass, the total amount of forcibly closed "shorts" exceeded $26 million in just one hour.

In the context of cryptocurrency markets, liquidation means that the exchange forcibly closes a trader's position using leverage due to partial or complete loss of initial margin. This happens when a trader cannot meet the margin requirements for a position using leverage, which means that he does not have sufficient funds to maintain an open trade.