Bitcoin shattered its previous all-time high on Wednesday, soaring to an unprecedented $112,040 per coin.
The cryptocurrency appreciated 3% against the U.S. dollar on July 9, registering a new record on Bitstamp at $112,040. Bitcoin’s market capitalization now rests at $2.221 trillion, accompanied by $28.18 billion in volume exchanged throughout the day. This upward movement nudged the entire digital asset market 3.02% higher, lifting total valuation to $3.47 trillion.
The spike also ignited a cascade of liquidations, triggering $484.72 million in closed positions across derivatives platforms. Of that, $223 million stemmed from bitcoin short sellers liquidated after the asset climbed from the $109K zone to the day’s record peak. As of 4:15 p.m. Eastern time, bitcoin’s price has retreated slightly, now trading at $111,297.
