Bitcoin Tops $111K, on Brink of Breaking Record High; Ether's 6% Jump Leads Major Cryptos
2025-07-09 20:44:48
Main Idea
Bitcoin surged to $111,400, nearing its May record high, while Ethereum's ETH jumped 6% to $2,760, marking its highest level in almost a month amid a broader crypto rally.
Key Points
1. Bitcoin briefly reached $111,400, approaching its May record of $112,000, before retreating slightly.
2. Ethereum's ETH surged 6% to $2,760, its highest level in nearly a month.
3. Leveraged trading positions worth $440 million were liquidated during Bitcoin's price movement.
4. Crypto-related stocks, including MicroStrategy (MSTR) and Coinbase (COIN), saw gains of 4.4% and 5%, respectively.
5. Analysts noted Bitcoin's low volatility and quiet market conditions as potential indicators of an upcoming price movement.
Description
Bitcoin (BTC) broke out of its recent very tight trading range during U.S. Wednesday afternoon hours, threatening to topple its May record of $112,000. The move came amid a broader crypto rally that also saw Ethereum's ether (ETH) surge 6% to $2,760, its highest level in a month. Bitcoin itself was ahead 2.4% at $111,400 at press time. For BTC, the $110,000 level has been a significant barrier over the past weeks with investors taking profits each time the price neared that level. Checking crypt...
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