Bitcoin, Ethereum, XRP and Dogecoin jump as crypto turns greedy
Bitcoin, Ethereum, XRP, Solana and Dogecoin rally to multi-month highs, while Strategy and Bitmine Immersion Technologies also rise, as investors parse CLARITY Act optimism and other macro developments.
Leading cryptocurrencies jumped to their multi-month highs on Wednesday as investors parsed CLARITY Act optimism and other macro developments. m. 07484 Crypto Market Explodes Bitcoin surged nearly 8% to touch $70,000, reaching its highest level since early June. Trading volume erupted 161% over the last 24 hours, indicating high buying pressure.
Ethereum soared to levels not seen since May 12, while trading volume exploded by 346%. XRP and Dogecoin also recorded sharp spikes. Cryptocurrency-related stocks also soared, with Strategy Inc. (NASDAQ: MSTR ) and Bitmine Immersion Technologies Inc.
72%, respectively. 74 billion in bearish short positions alone wiped out, according to Coinglass data. It was the largest single-day short liquidation event in Bitcoin’s history. 41% over the last 24 hours.
” "Greed" sentiment took over the market, according to the Crypto Fear & Greed Index. m. 37 trillion. Read Also: Strategy Stock Climbs as Bitcoin Rises and Yields Drop Stocks Snap Losing Run Stocks rebounded sharply on Wednesday.
05. 09. The Treasury said it will increase liquidity support buyback operations for longer-dated bonds from a maximum of $2 billion per operation to at least $4 billion per operation. ‘It’s Just a First Start’ Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, said that the cryptocurrency market is waking up massively, with Bitcoin leading gains, Ethereum showing strength and Solana following closely.
“More Altcoins will start to follow through as confidence comes in and liquidity rotates from Bitcoin towards assets that deserve attention,” Van De Poppe projected. The markets are waking up massively and it's just a first start. #Bitcoin has moved first. $ETH started to show a lot of strength, and $SOL is passing up with that.
” “This time spot is participating. That is the difference,” the firm added. “Leverage can move price. ” Spot and Futures Demand "Spot and perpetual futures demand growth have both crossed back above zero on the 30-day sum.
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