Major cryptocurrencies rode the wave of Bitcoin's fresh all-time highs on Wednesday, gaining momentum alongside the top coin by market capitalization.
CryptocurrencyGains +/-Price (Recorded at 8:45 p.m. ET)Bitcoin
BTC/USD+4.00%+2.55%$109,618.48
ETH/USD+1.00% +1.58%$2,572.12
DOGE/USD+6.00% +4.97%$0.2375
What Happened: The leading cryptocurrency broke $110,000 overnight, hours after officially bettering its previous high of $109,241 set on President Donald Trump'sinauguration day. Bitcoin's trading volume spiked 136% over the last 24 hours.
The rally rubbed off on Ethereum as the second-largest cryptocurrency reentered the $2,600 region, with volumes surging by 51%.
Ethereum's dominance increased to 9%, while Bitcoin's market share narrowed marginally to 63.2%
Over $232 million in bearish shorts were erased in the last 24 hours, out of the total liquidations worth nearly $403 million.
Moreover, about $713 million in Bitcoin shorts were at further risk of liquidation if the leading cryptocurrency$BTC
dvanced to $112,000.
Bitcoin’s Open Interest soared 16.73% in the last 24 hours to a new record of $78.89 billion, suggesting heightened speculative interest. Over 50% of derivatives traders with open BTC positions bet in favor of BTC as of this writing.
The market retained the "Greed" sentiment, according to the Crypto Fear and Greed Index, indicating high buying interest.#BTCBreaksATH110K #Ehereum