The price of bitcoin has rallied back above the $43,000 mark with the volatile price action causing the liquidation of over $66 million in leveraged cryptocurrency positions.

The world's largest cryptocurrency by market capitalization increased by over 1.8% in the past 24 hours to $43,317 at 12:00 p.m. ET, according to The Block's Price Page.

The price action caused the liquidation of over $15 million in bitcoin leveraged positions, according to Coinglass data.

Macro conditions could reduce halving impact

While the hype that surrounded the approval of multiple spot bitcoin ETFs in January has subsiding, two significant plot points in the BTC narrative are poised to unfold in the coming months: the …