Bitcoin has surged to approximately $111,400, edging closer to its previous all-time high of $112,000 during a widespread crypto resurgence. Ethereum (ETH) also reported a 6% rise, reaching $2,760, the highest it has been in nearly a month.

Key Highlights:

• Bitcoin reached up to $111,400 but has fluctuated, remaining slightly below its all-time peak on multiple exchanges including Binance, Coinbase, and Bitstamp.
• The momentum is supported by reduced market volatility, indicating potential for further increases.
• Significant liquidations were noted in crypto derivatives, amounting to $425 million, reflecting investor anticipation of higher prices.

Quote from Charlie Morris, CIO at ByteTree:

“Crypto feels so quiet, while bitcoin is ready to move.” Translation: “While the market is currently calm, Bitcoin seems poised for significant movement.”

The persistence of Bitcoin around the $110,000 level has shown to be a turning point, with traders seizing profits leading up to that threshold. Additionally, the rise in Ethereum is attributed to its perceived role in tokenization and settlement infrastructure in the future.