Bitcoin Surges to US$111,000, Altcoins Also Soar Amid Market Euphoria
The price of Bitcoin (BTC) has once again set a new record by surpassing US$111,000, rising 4% in the last 24 hours. Its trading volume also jumped 72% to US$86.9 billion during the same period.
This has also contributed to a wave of increases in the crypto market as a whole. This surge has acted as a positive catalyst for altcoins such as Ethereum (ETH) and Dogecoin (DOGE), which have also strengthened.
Ethereum is now trading around US$2,600 after rising more than 2.6%, while Dogecoin surged nearly 6.3% to US$0.2417. This increase coincides with a significant spike in trading volume over the last 24 hours.
On the other hand, the crypto market also recorded a capitalization reaching US$3.47 trillion, driven by “greed” sentiment based on the Crypto Fear and Greed Index. The price increase has also led to massive liquidations of short positions worth hundreds of millions of dollars.
Disclaimer Alert. Not Financial Advice (NFA). Do Your Own Research (DYOR).
