Bitcoin (BTC) Makes Substantial Waves in the Crypto Market with New Price Surges

Bitcoin (BTC) is making substantial waves in the crypto market with new price surges. As per the exclusive market statistics

Bitcoin (BTC) price is making substantial moves in the crypto market with new price surges.

According to the exclusive market statistics, Bitcoin (BTC) has surged above $111K and is now aiming for $112K while several cryptocurrencies like Ethereum (ETH) and Dogecoin (DOGE) are also reflecting bullish momentum. This takes place after Bitcoin has successfully set $111,970.17 as its new all-time high price.

BTC price is currently trading closer to its latest ATH and is aiming for $112K as next price target. Analogously, the top altcoins such as Ethereum (ETH) and Dogecoin (DOGE) have also recorded 3.81% as well as 2.67% price spikes respectively. Notably, Ethereum’s market dominance has risen to 9.3% and its price reached the $2,686.39. Moreover, Dogecoin is now valued at $0.2474.

The bullish spin in the wider crypto market occurs despite the fact that the financial sector is stagnating. Equities reportedly closed flat on a large case, triggering new apprehensions regarding national debt after the House authorized the tax-cut bill of the U.S. President Donald Trump. Notably, Dow Jones went down by 1.35 points. However, S&P 500 dropped by 0.04% and Nasdaq went up by 0.28%.

On the other hand, crypto markets expressed a substantial surge. Notably, over $300M in positions were liquidated over the past twenty-four hours, mostly from diverse short sellers. This also led to Bitcoin’s price showing an 18% gain just in May. Meanwhile, Ethereum’s price went up by 47%.

Despite this upswing, the data from the popular crypto exchange Binance shows that most of the Bitcoin traders are still holding short positions. Along with that, the overall crypto market capitalization reached the $3.5T following a 1.67% increase. This marks another milestone in the crypto market rally.