Bitcoin Hits $113K All-Time High as Ethereum, XRP, Dogecoin Surge
Bitcoin Surpasses $113,000: Cryptocurrency Market Update
Cryptocurrency Market Overview
On Thursday, the cryptocurrency market experienced a notable upswing, with Bitcoin reaching a historic peak above $113,000.
Current Prices of Major Cryptocurrencies
| Cryptocurrency | Ticker | Price |
|---|---|---|
| Bitcoin | BTC/USD | $113,643.97 |
| ethereum | ETH/USD | $2,821.43 |
| Solana | SOL/USD | $159.60 |
| XRP | XRP/USD | $2.49 |
| Dogecoin | DOGE/USD | $0.1866 |
| Shiba Inu | SHIB/USD | $0.00001286 |
Key Market Statistics
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Data from IntoTheBlock indicates a 7.2% increase in Bitcoin’s large transaction volume, while daily active addresses have decreased by 2.09%. Notably, transactions exceeding $100,000 rose from 10,812 to 11,403 in just one day. Additionally, netflows to exchanges have plummeted by 202.9%.
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According to Coinglass, a staggering 155,737 traders faced liquidation in the last 24 hours, amounting to $647.46 million.
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Among the top performers in the past day are Pudgy Penguins, Sui, and Virtuals Protocol.
Recent Developments in the Crypto Space
Insights from Traders
Crypto trader Kaleo anticipates that a significant breakout, referred to as a “god candle,” is imminent as Bitcoin approaches a crucial resistance level that has persisted since its highs in 2021. He believes that a decisive move above this threshold is on the horizon.
Analyst Perspectives
Crypto analyst Kevin notes that the delay between the expansion of global liquidity and Bitcoin’s price reaction is unfolding as expected. The timeline has reached 106 days, nearing the projected maximum of 110 days. Market participants are now keenly observing Bitcoin’s performance in light of this timing.
Michael van de Poppe has pointed out that a bearish divergence in Bitcoin’s dominance is beginning to manifest. While further confirmation is needed, it appears that a renewed appetite for risk is emerging, potentially indicating a shift in momentum towards altcoins.
Conclusion
As the cryptocurrency landscape evolves, Bitcoin’s recent achievements and market dynamics are capturing the attention of traders and analysts alike. The ongoing developments suggest a vibrant and potentially transformative period for digital assets.
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