Bitcoin Surges to New All-Time High Above $113,700 as Market Caps Soar

On the evening of July 10, Bitcoin, the leading cryptocurrency, reached a new all-time high (ATH) of approximately $112,600, while Ethereum climbed to $2,800.

Bitcoin surged further, setting a new ATH at $113,788 (according to Binance).

As reported by Coinglass, the liquidation volume over the past 24 hours hit $598 million, with $529 million from short positions.

Most top cryptocurrencies saw gains, with XRP increasing by 4.6% and DOGE by 6.2%.

The total market capitalization of cryptocurrencies surpassed $3.6 trillion, and Bitcoin dominance stands at 62.7%.

Analyst and founder of MN Trading, Michaël van de Poppe, noted that Bitcoin’s «beautiful» breakout established support at the $110,500 level.

He added, «It’s likely we’ll see $150,000 in the third quarter.»

The crypto community has also pointed out that digital gold continues to track the global liquidity index M2.

Additionally, analyst Omkar Godbole highlighted long-term resistance levels for Bitcoin at $115,000 and $223,000.