A Sharp Surge in Four Minutes from the $113,000 Range
Ethereum Approaches the $3,000 Mark
Bitcoin continues to set new record highs, surpassing the $116,000 mark.
According to cryptocurrency exchange Coinbase, as of 5:40 p.m. Eastern Time on the 10th (local time), the price of one Bitcoin was trading at $116,474, up 4.54% from the previous day. On Coinbase, Bitcoin surpassed the $112,000 level for the first time ever the previous day, breaking the previous all-time high set on May 22. On this day, it also broke through the $116,000 level.
On this day, Bitcoin continued its upward momentum from the previous day, trading around $113,700 before a surge of buying in the afternoon pushed the price above $116,000 in about four minutes. The price reached a new high of around $116,700.
Gary O'Shea, Head of Global Market Insights at cryptocurrency asset management firm Hashdex, analyzed that Bitcoin's rally is due to strong capital inflows into exchange-traded funds (ETFs), the continued participation of companies adopting cryptocurrency as an asset, and a regulatory environment that is becoming more favorable. He stated, "Although the macroeconomic environment remains uncertain, this bull market is not over," and predicted, "New catalysts, such as the expansion of Bitcoin access platforms for institutional investors, could push Bitcoin's price above $140,000 within this year."
At the same time, Ethereum, the second-largest cryptocurrency by market capitalization, rose 6.27% to $2,927, approaching the $3,000 mark. XRP (Ripple) also climbed 5.33% to $2.56, surpassing the $2.5 range. Solana and Dogecoin increased by 3.82% and 5.39%, respectively, trading at $163 and $0.19.
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