Oh, the weekend’s tranquility in the world of Bitcoin was as fleeting as a poet’s muse. By Sunday evening, the digital currency had soared to a new all-time high, and by Monday morning, it had climbed even higher, surpassing the dizzying height of $123,000. 🚀
And just like a chorus of birds following the lead of a songbird, many altcoins have joined the symphony of gains, with SUI, CRO, UNI, ALGO, and others marking impressive strides over the past day.
BTC’s Latest Peak
The past week has been a testament to the unpredictable nature of the cryptocurrency world. Just a mere seven days ago, the primary digital asset was confined within a tight range, its upper boundary at $110,000. Despite a few attempts to break free, it seemed as if the chains of stagnation were too strong.
But then, on Wednesday evening, the bulls finally broke through the resistance, propelling the asset to $112,000. This was merely the prelude to a grander ascent, as BTC continued to climb, reaching nearly $119,000 by Friday.
Saturday was a day of rest, with little to no significant movement, and so was most of Sunday. However, the landscape shifted dramatically later in the day, as Bitcoin surged past $119,000, setting a new record. Monday dawned with fresh gains, and the latest all-time high stands at over $123,000 (on Bitstamp). This means that BTC has added roughly $15,000 since last Wednesday, a journey as swift as a summer storm.
The sudden surge to new heights caught short traders off guard, leading to total liquidations of up to $730 million. One particular whale, perhaps a bit too confident in their bet, was wiped out for almost $100 million on Binance. 🐳💔
When asked about the driving forces behind today’s surge, Marcin Kazmierczak, Co-founder and COO of Redstone, offered the following insight:
“Bitcoin’s breakthrough past $120,000 today marks a significant psychological milestone, extending its impressive 28% year-to-date gain. The move follows President Donald Trump’s decision to impose a 30% tariff on the EU and Mexico, alongside growing institutional adoption through record ETF inflows.”
Alts in the Green
Many altcoins have mirrored BTC’s spectacular performance. Ethereum has reclaimed the $3,000 mark after a 3% daily jump. BNB is above $700, having gained 2%. SOL, DOGE, ADA, HYPE, TRX, and LINK have also seen similar increases.
XRP is once again flirting with the $3 mark after a 6% daily pump. Even more impressive gains have been recorded by XLM, HBAR, AAVE, TAO, and ONDO. SUI, UNI, and CRO have charted double-digit gains, as if they were racing to catch up with the leader of the pack.
The total crypto market cap has swelled by more than $100 billion since yesterday, reaching almost $3.9 trillion on CG. It’s a market that moves as swiftly and unpredictably as the wind, leaving even the most seasoned traders in awe. 🌪️
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2025-07-14 12:13