Bitcoin Records New All-time High: Breaks Above May’s Peak
2025-07-09 20:07:36
Main Idea
Bitcoin broke its previous all-time high, reaching $112,000, with altcoins following suit, leading to significant market liquidations and volatility influenced by external factors like US Federal Reserve rate cut speculation.
Key Points
1. Bitcoin's price surged to a new all-time high of $112,000, breaking past the $110,000 resistance level.
2. Altcoins mirrored Bitcoin's rally, contributing to approximately $500 million in liquidations across the market within 24 hours.
3. The price of Bitcoin experienced a drop to $98,000 during the Iran-Israel conflict but quickly recovered above $100,000.
4. US President Trump's suggestion for a 300bps rate cut by the Federal Reserve is cited as a potential catalyst for the surge in Bitcoin's price.
5. Over-leveraged traders faced significant losses, with $480 million in liquidations and 100,000 traders affected, predominantly those holding short positions.
Description
After a few weeks of trading sideways within a relatively tight range that had $110,000 as the upper boundary, bitcoin’s price finally broke above it and charted a fresh all-time high at $112,000. Many altcoins mimicked BTC’s rally, which resulted in roughly $500 million worth of liquidations on a 24-hour scale across the market. BTCUSD. Source: TradingView After the peak reached on Bitcoin Pizza Day (May 22), the primary cryptocurrency started to lose some ground, which culminated precisely a m...
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