Author: Azuma, Odaily
The cryptocurrency market seems to have entered an accelerated upward phase. After a significant surge the night before, the market experienced an even more violent rally last night.
OKX data shows that BTC briefly surged to 117,548.2 USDT last night, and was reported at 115,408 USDT as of 8:30 this morning, with a 24-hour increase of 3.75%. Even more surprisingly, the altcoin bellwether ETH, stimulated by multiple positive factors, broke through the 3,000 mark last night, reaching a high of 3,002.99 USDT, and was reported at 2,972.21 USDT as of 8:30 this morning, with a 24-hour increase of 5.77%. Another altcoin leader, SOL, was reported at 162.7 USDT, with a 24-hour increase of 4%.
Influenced by the overall market uptrend (especially ETH's revival), the altcoin market also saw a strong recovery. As of 8:30 this morning, multiple coins in the top 100 recorded double-digit gains, with SUI reported at 3.42 USDT, a 24-hour increase of 11.7%; ARB at 0.3915 USDT, a 24-hour increase of 11.1%; PEPE at 0.00001218 USD, a 24-hour increase of 11.2%; PENGU at 0.0194 USDT, a 24-hour increase of 26.18%...
CoinGecko data shows that the total crypto market cap has now exceeded $3.669 trillion. In terms of market sentiment, crypto user trading enthusiasm has also significantly increased, with today's fear and greed index reaching 71, currently rated as "greedy".
In derivatives trading, Coinglass data shows that over the past 24 hours, total liquidations reached $1.078 billion, with the majority being short liquidations amounting to $969 million. By cryptocurrency, BTC liquidations were $583 million, and ETH liquidations were $242 million.
