Bitcoin climbed back above the $73,000 threshold, trading around $73,475 after testing the level earlier. The move comes as the global crypto market cap rose about 0.67% to roughly $2.49 trillion, with Bitcoin’s dominance near 59%. Investor sentiment across digital assets is gradually improving amid expectations that geopolitical tensions may ease.
Ethereum advanced 2.40% to $2,308, leading the major tokens higher. XRP rose 0.41% to $1.36 and BNB gained 0.35% to $611.76. Solana climbed 0.34% to $85.69 while TRX rose 0.79% to $0.3198; Dogecoin edged lower by 0.29% to $0.09468. The hype token HYPE posted about a 2.4% daily gain, indicating relative strength among select altcoins.
Market momentum was amplified by short-covering in the futures market, with BTC briefly surpassing $73,000 as short positions worth about $138 million were liquidated and total 24-hour liquidations reached around $2.23 billion. Analysts warned that while the near term could see more upside due to liquidity concentrated between roughly $73,500 and $76,000, a larger cluster of liquidations could form between roughly $68,500 and $72,000, potentially triggering a pullback. Overall, traders are advised to focus on key support and resistance levels and manage risk carefully.
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