Bitcoin rises to $ 46,000 on Bittrex exchange

On the night of November 23, the value of bitcoin on the Bittrex cryptocurrency exchange reached $ 46,300. This is almost 7% higher than the market value of the digital asset on the largest trading platforms.

In addition to BTC, other cryptocurrencies on the exchange that is preparing to close have also risen sharply. For example, the price of Ethereum reached $ 3014 at the moment, Solana — $ 75, and the Tether USD (USDT) stablecoin — $ 1.46.

Such a rise in prices for a number of large digital assets may indicate that users want to get rid of their dollar assets, as exchange representatives announced that it would be impossible to withdraw US dollars (USD) from the trading platform. In addition, low liquidity and the likely suspension of market makers' work led to high volatility in popular trading pairs.

The abnormal behavior of crypto asset prices occurred amid news of Bittrex’s closure. Recently, the company announced that trading on the platform will be suspended starting December 4. Withdrawals in USD are not possible, and the exchange offers users to exchange their existing USD balances for cryptocurrencies or euros. Bittrex deposits have been suspended.

In June 2023, the price of BTC on Binance.US, a division of Binance for the US market, exceeded $ 138,000 in a pair against the USDT stablecoin. This happened due to liquidity problems amid difficulties with banking partners and lawsuits from US regulators.

As for the value of bitcoin, according to crypto trackers, at the time of writing, the market leader is trading at $ 37,423, maintaining a stable value for several days. The market capitalization of the BTC is $ 731 billion, and the trading volume per day is $ 10 billion.