Markets Turn Green as $BTC, $ETH, $SOL, and $XRP Pump — Is This Just the Beginning?

• Bitcoin price rallied to a new all-time high of $112k, triggering a wider altcoin pump today.
• On-chain data suggests the bullish outlook was bolstered by rising demand from whales amid waning retail speculation.
• Technical analysis suggests the crypto market is not yet out of the woods but the bulls have the upper hand.

Bitcoin (BTC) price rallied 2.5% in the past 24 hours to reach a new all-time high of slightly above $112k, before retracing to trade about $111,112 on Thursday, July 10, during the early European session. The wider altcoin market- led by Ethereum (ETH), XRP, Solana (SOL), and Dogecoin (DOGE) – rallied in tandem.

As a result, the total crypto market cap surged to $3.53 trillion, with the daily average trading volume having gained 40% to hover around $140 billion according to market data from Binance-backed Coinmarketcap. The sudden crypto pump in the past 24-hours resulted in more than $529 million liquidated from over 114,508 traders, with the shorts accounting for around $466 million.

The move also pushed Bitcoin’s market capitalization above that of the tech giant Alphabet (Google).

Major Reasons Why BTC and Altcoins Pumped Today

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The post Markets Turn Green as $BTC, $ETH, $SOL, and $XRP Pump — Is This Just the Beginning? appeared first on Coin Edition.