Large Bitcoin Holder Liquidated for More Than $50M as BTC Hits New All-Time High

Bitcoin surged to a new all-time high of $120,000 following weeks of consolidation, causing a massive liquidation of over $51 million for a significant holder, according to CoinGlass data. This surge came after a period of stagnation and slight correction that brought Bitcoin to just above $105,000 earlier in the month. The primary cryptocurrency's market cap now exceeds $2.210 trillion, although its dominance over altcoins has reduced to 62.4%. Meanwhile, altcoins like PENGU, WIF, and FARTCOIN have experienced remarkable price pumps, with PENGU seeing an increase of over 34% due to rumors of a spot ETF. The collective market cap of all cryptocurrencies has risen by around $100 billion since yesterday, totaling $3.540 trillion.