On Monday, January 9, the quotation of the first cryptocurrency exceeded $17,000 for the first time since mid-December 2022. Over the past 24 hours, the asset has gained 1.6 percent, according to CoinGecko.

As of this writing, bitcoin is trading near the $17,200 mark. As you can see in the chart below, the rise in price is accompanied by a surge in trading volume.

According to Coinglass, $187.2 million worth of positions were liquidated in the futures market during the day. $22.5 million of them were bitcoin-based contracts, $49.5 million were Ethereum-based contracts.

The price of the second most capitalized cryptocurrency is holding at $1309 (+3.6% over the last 24 hours).

Earlier Galaxy Digital founder Mike Novogratz repeated his prediction about the rise in the price of the first cryptocurrency to the $500,000 mark.

Former BitMEX CEO Arthur Hayes expressed his opinion that bitcoin had reached the bottom because almost all "irresponsible organizations" had run out of BTC to sell.