Bitcoin is gaining momentum as markets start moving upward, while gold remains in a consolidation phase. The shift has pushed Bitcoin’s valuation higher compared with gold. At the same time, Ethereum has broken out of its recent trading range, signaling growing strength in the crypto market. The rise of cryptocurrency ETFs is making it easier for large investors to enter the market.
Tether dominance is increasing, a key signal many crypto analysts watch to track market liquidity. Bitcoin price today jumps to a 40-day high, with about $113 million in shorts wiped out in minutes. Bitcoin surged about $1,800 in just 30 minutes, reaching a 40-day high of around $74,300. The move triggered about $113 million in short liquidations within an hour across major exchanges.
Bitcoin is near a liquidity zone around $74,000, with pullback risk remaining. Bitcoin climbed 3.2% in a day, while Ethereum surged 7.6%. The total crypto market has added more than $320 billion in value. Bitcoin continues to show a close relationship with the S&P 500.
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