Bitcoin surges past $110,000, marking a rebound from last week’s slump and nearing its all-time high. The cryptocurrency experienced a 3.7% increase over the past 24 hours, currently trading at $110,312.98. Ethereum’s price also appreciated, rising 3.8% to exceed $2,620.

Key Highlights:

• Hyperliquid’s HYPE and SUI tokens gained 7% and 4.5% respectively, despite traditional markets remaining static.
• Bitfinex analysts commented that Bitcoin seems to have stabilized post a significant leverage flush from the previous week, but is facing a crucial point as macroeconomic factors loom.

Analysts, including Caleb Franzen, noted this market behavior as a ‘peaceful rally’ with consistent higher highs and lows amid emerging buyer support. However, the market appears to be at a crossroads, balancing between support levels and declining bullish momentum, awaiting further macro signals.

Liquidation Update:

Recent movements have caught many leveraged traders off guard, leading to liquidations exceeding $110 million within an hour alone, contributing to a total of $330 million liquidated across cryptocurrencies in a single day— the highest for a month.

Upcoming Influences: Expectations are set for potential macro catalysts later this week, as U.S. and Chinese trade representatives are set to convene, which could sway market sentiments. Additionally, a new CPI report on Wednesday may provide insights into U.S. inflation.