Bitcoin reached a peak of $77,200 around 4 AM, setting a new all-time high for four consecutive days, while Ethereum approached the $3,000 mark, experiencing a larger increase than Bitcoin. Under the continued influence of the Trump effect, the three major U.S. stock indices also set new records.
(Previous context: Can Bitcoin still rise? Analysts use “two indicators” to determine that the market is not yet overheated.)
(Background supplement: Record high! 284 pro-crypto candidates enter Congress, is Trump’s crypto-friendly policy the strongest backing?)
The Trump effect continues to ferment, with Bitcoin fluctuating between $75,600 and $76,500 yesterday (8th) but starting to rise steadily after 1 AM today, breaking through $77,000 by 3:30 AM and reaching a high of $77,200. Since Trump’s election victory, Bitcoin has set 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 rise is even more aggressive, climbing to $2,995 around 9 AM this morning, marking a new high in more than three months. Before the deadline, it was reported at $2,984.55, up nearly 2% in the past 24 hours.
Other top ten cryptocurrencies by market capitalization also showed widespread increases, with ADA having the largest gain, up 4.8% in the past 24 hours.
SOL briefly touched $205 last night, retreating to below $200 before the deadline, with a minor dip of 0.4% over the past 24 hours.
BNB broke through $600, hitting a high of $624.77, with a 2.3% increase over the past 24 hours.
DOGE stood at $0.2, up 3.2% over the past 24 hours.
Amid Bitcoin’s volatile rise, data from Coinglass shows that in the past 24 hours, the total amount of cryptocurrency liquidations exceeded $215 million, with the liquidation amounts roughly equal between long and short positions, affecting more than 91,000 people.
Notably, aside from the top ten tokens by market cap, the token with the highest liquidation amount is $Drift, which was listed on Upbit yesterday and soared more than twice in the past 24 hours.
In the U.S. stock market, the three major indices set new records with slight gains, with Tesla further rising 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.
