HOT MOMENTS: Bitcoin (BTC) Soars, Altcoins Spike – What‘s the Latest on ETH, XRP, DOGE, ADA and SOL？ Here’s What You Know

The cryptocurrency market has seen a strong upward wave in the last hour. Bitcoin (BTC) broke a new all-time high of $116,586.84 minutes ago.

BTC rose by 2.43% in the last hour, 5.04% in the last 24 hours, and 6.13% in the last 7 days. Its market capitalization exceeded $2.31 trillion.

The market as a whole is also experiencing notable increases. Here are the highlights:

• Ethereum (ETH): 5.94% in the last hour to $2,989. It has been a long time since the $3,000 level was reached. Its 7-day performance has exceeded 15%.
• XRP: Trading at $2.54, up 1.95%. Weekly gain: 12.28%.
• Solana (SOL): It rose 2.13% in the last hour to $163.84.
• Dogecoin (DOGE): Up 2.46% to $0.1918; weekly gain exceeds 11%.
• Cardano (ADA): Up 2.24% to $0.6720; 7-day performance is 11.92%.
• Sui (SUI): It rose 13.52% in the last 24 hours to $3.46.
• Stellar (XLM): Stands out with its strong 24% weekly rise.

With the renewed investor interest, daily trading volumes are also seeing significant increases. Bitcoin's 24-hour trading volume alone has surpassed $89 billion, while Ethereum's has surpassed $29 billion.

This volatility, influenced by a number of factors including macroeconomic developments, ETF approval expectations, and institutional buying, is being interpreted as a sign of a new bull season in the crypto market. Analysts note that volatility is likely to increase, particularly as Bitcoin approaches the psychological resistance of $120,000.

The expectation of an interest rate cut from the FED is also among the catalysts for the rise.

The cryptocurrency market saw $687 million in liquidations in the last hour, $660 million of which was in short positions.

*This is not investment advice.