Bitcoin Clocks $110,000, Ethereum, Dogecoin Extend Gains: Well-Known Trader Peter Brandt Says BTC Could Gain Another 37% As Soon As August
Major cryptocurrencies rode the wave of Bitcoin’s fresh all-time highs on Wednesday, gaining momentum alongside the top coin by market capitalization.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:45 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +2.55% | $109,618.48 |
| Ethereum (CRYPTO: ETH) |
+1.58% | $2,572.12 |
| Dogecoin (CRYPTO: DOGE) | +4.97% | $0.2375 |
What Happened: The leading cryptocurrency broke $110,000 overnight, hours after officially bettering its previous high of $109,241 set on President Donald Trump’s inauguration day. Bitcoin’s trading volume spiked 136% over the last 24 hours.
The rally rubbed off on Ethereum as the second-largest cryptocurrency reentered the $2,600 region, with volumes surging by 51%.
Ethereum’s dominance increased to 9%, while Bitcoin’s market share narrowed marginally to 63.2%
Over $232 million in bearish shorts were erased in the last 24 hours, out of the total liquidations worth nearly $403 million.
Moreover, about $713 million in Bitcoin shorts were at further risk of liquidation if the leading cryptocurrency advanced to $112,000.
Bitcoin’s Open Interest soared 16.73% in the last 24 hours to a new record of $78.89 billion, suggesting …
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