Bitcoin Value Surpasses $90K Mark for the First Time in Six Weeks

Bitcoin's value has ascended past the significant $90,000 mark for the first time in six weeks, indicating a 3.3% increase in the past 24 hours and a total of 7.3% weekly gains. Currently, Bitcoin dominates 61.6% of the market, showing an upward trend throughout the day and outperforming the altcoin market.

The primary cryptocurrency's dominance has reached a four-year high, reflecting strong investor confidence. Furthermore, most altcoins, including Ethereum, XRP, SOL, and DOGE, have seen increases as well.

This surge has led to a rise in liquidated positions in the derivatives market, currently amounting to approximately $320 million, with short positions making up around $190 million of the total.