Bitcoin reached a high of $77,200 around 4 a.m., setting a new all-time high for the fourth consecutive day, while Ethereum approached the $3,000 mark, with a growth rate surpassing that of Bitcoin. The Trump effect continues to ferment, with the three major U.S. stock indices also hitting new highs.
(Background: Can Bitcoin continue to rise? Analysts use “two indicators” to determine that the market is not yet overheated.)
(Supplementary background: Record high! 284 pro-crypto candidates enter Congress, the strongest backing for Trump’s crypto-friendly policies?)
The Trump effect continues to ferment. Bitcoin was initially fluctuating between $75,600 and $76,500 yesterday (8th), but started to surge after 1 a.m. today, breaking through $77,000 by 3:30 a.m., with a high of $77,200. Since Trump’s election victory, Bitcoin has hit a new all-time high for four consecutive days.
Before the deadline, it slightly retreated to $76,383, with the 24-hour increase narrowing to 0.31%.
Ethereum’s surge was even more aggressive, climbing to $2,995 around 9 a.m. this morning, marking a new high in over three months. Before the deadline, it was reported at $2,984.55, with a nearly 2% increase in the past 24 hours.
Other top ten cryptocurrencies by market cap also showed a general increase, with ADA having the largest gain, up 4.8% in the past 24 hours.
SOL briefly touched $205 last night, retreating below $200 before the deadline, with a slight 0.4% decrease in the past 24 hours.
BNB broke through $600, reaching a high of $624.77, with a 2.3% increase in the past 24 hours.
DOGE stood at $0.2, with a 3.2% increase in the past 24 hours.
With Bitcoin’s fluctuating upward trend, Coinglass data shows that in the past 24 hours, the total amount of liquidations across the cryptocurrency market exceeded $215 million, with long and short positions being roughly equal, and over 91,000 people were liquidated.
Notably, besides the top ten tokens by market cap, the token with the highest liquidation amount was $Drift, which was listed on Upbit yesterday and soared more than twofold in the past 24 hours.
In the U.S. stock market, the three major indices hit new highs with small gains, with Tesla continuing to rise by 8.19%:
The Dow Jones Industrial Average rose 259.65 points or 0.59%, closing at 43,988.99 points.
The S&P 500 Index rose 22.44 points or 0.38%, closing at 5,995.54 points.
The Nasdaq Index rose 17.32 points or 0.09%, closing at 19,286.78 points.
The Philadelphia Semiconductor Index fell 43.467 points or 0.81%, closing at 5,290.52 points.
