‼️Why has the cryptocurrency market risen today?‼️
📍The cryptocurrency market has risen today, reflecting investor optimism for a potential continued rebound and strong technical data from the TOTAL metric after the price of BTC reached new all-time highs.
📌Key points:
📍The cryptocurrency market has risen by 2.5% on May 22, with its capitalization surpassing 3.48 trillion dollars for the first time since February.
📍The new all-time high of Bitcoin at 111,888 dollars is boosting investor confidence across the cryptocurrency market.
The cryptocurrency market is up today, with the total market capitalization increasing by approximately 2.5% in the last 24 hours, reaching 3.48 trillion dollars on May 22. The total trading volume in 24 hours of all crypto assets has also increased by 55% to 193.2 billion dollars, reinforcing the intensity of demand activity.
Cryptocurrency prices are driven by new all-time highs of Bitcoin
Cryptocurrency prices are driven by new all-time highs of Bitcoin
Today's gains were led by Bitcoin
, which surpassed 111,000 dollars for the first time on May 22, setting a new all-time high, while market sentiment continues to improve following last month's tariff-induced sell-off.
Data from Cointelegraph Markets Pro and TradingView shows that BTC rose by up to 7.3% to a new all-time high of 111,888 dollars on May 22 from a low of 104,200 dollars on May 21, lifting the overall cryptocurrency market.
Major altcoins like Ether
2287 €
, Cardano
0.6986 €
Massive short position liquidations fuel price increase
Another driver of today's rally is a wave of short position liquidations that has triggered a strong short squeeze, as shown by CoinGlass data.
