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Crypto Bull Run: Bitcoin Hits New ATH, Ethereum Tops $3K, XRP Eyes $3.39 Peak
The cryptocurrency market is in the midst of a major bull run as Bitcoin (BTC) has just surpassed its all-time high, reaching $118,000 for the first time ever, while Ethereum (ETH) topped $3,000 and Ripple (XRP) is on the verge of breaking past $3.39.
Bitcoin’s surge above $118,000 marks a significant milestone for the flagship cryptocurrency, with many experts attributing the price growth to the recent release of Federal Open Market Committee (FOMC) minutes from last June. The increased interest in Bitcoin ETFs has also led to a massive influx of $1.18 billion in inflows on Thursday alone, wiping out over $658 million in short positions.
Ethereum’s climb above $3,000 is equally impressive, having risen by 7% in just 24 hours. This rapid appreciation can be attributed to the growing support from institutional investors and mainstream acceptance, which has led to significant demand for this altcoin. It’s worth noting that Ethereum ETFs have seen an influx of $383 million in inflows, with BlackRock’s ETHA pulling in a substantial $300.9 million.
XRP, meanwhile, continues its upward momentum, having increased by over 15% in the past week and showing significant strength in its recent price action. While XRP is not yet at its potential peak of $3.39, there are strong indicators that it could reach this level if market conditions continue to favor digital assets.
The broader market has also followed suit, with top cryptocurrencies like Binance Coin (BNB), Solana (SOL), and Dogecoin (DOGE) all experiencing gains. The overall market capitalization of the crypto space has reached $3.66 trillion, highlighting a renewed confidence in the sector.
In summary, the current cryptocurrency market trend is characterized by the explosive growth of Bitcoin, Ethereum, XRP, and other top assets.
Source: www.crypto-news-flash.com
