Bitcoin Soars to $107,000: BTC-Centric Rally Continues in the Crypto Market
In the cryptocurrency market, growth continues to be Bitcoin-centric, with the largest cryptocurrency setting a new record level in yesterday's trading. Bitcoin, which continues its upward trend, established a new record level of $107,764 during the U.S. session yesterday. This movement by Bitcoin increased the global cryptocurrency market volume by 1% to $3.72 trillion. The trading volume surged by 34%, reaching $211 billion, indicating a significant increase in investor activity.
The rise led by Bitcoin has seen it increase to $106,450, up 2% from its record level over the last 24 hours. BTC traded between $103,320 and $107,764 in that 24-hour period. With a market capitalization of $2.11 trillion, Bitcoin maintains a dominance of 56.46% in the cryptocurrency market. The $218 million inflow into ETFs represents institutional interest, while major players like Fidelity, Ark, and 21Shares play a significant role in the market.
Ethereum and XRP have posted strong gains. Ethereum (ETH) rose to $4,102 last night and is currently trading around the $4,000 mark with a 1.5% increase this morning. ETH's market cap has reached $484 billion, and its trading volume stands at $43 billion. The $20 million inflow into ETFs indicates continued investor interest. XRP, on the other hand, is trading at $2.50 with an almost 5% increase over the last 24 hours and has a market cap of $143 billion. Analysts expect XRP's adoption to increase with the launch of Ripple's stable cryptocurrency RLUSD, with some predicting that XRP could reach $7. Solana (SOL), however, has declined by about 3%, dropping to $214 after previously reaching $223.
In the cryptocurrency market, memecoins experienced a downturn, with Dogecoin losing 1% and Shiba Inu losing 2% in value. DOGE is trading at $0.40, while SHIB is at $0.00002706. Other major memecoins such as PEPE and BONK also faced losses of up to 3%.
On the other hand, Bitget Token (BGB) was the biggest winner, increasing 10% to $3.57 over the last 24 hours. Cronos (CRO) rose 7% to $0.188, while Virtual Protocol (VIRTUAL) increased by 6% to $2.86. Among the losers, Helium (HNT) declined by 11% to $8.48, and GALA dropped by 10% to $0.045. Raydium (RAY) also fell by 9% to $4.89, reflecting a downward trend in the altcoin market.