Crypto Surge: Bitcoin, Ethereum Hit New Highs Amid U.S. Stimulus Talk
Cryptocurrencies have seen significant inflows and price surges, while the U.S. government considers stimulus measures. Bitcoin and Ethereum have reached new heights, with Bitcoin futures seeing substantial liquidations.
Spot ETF inflows for Bitcoin and Ethereum have been positive for four consecutive days, totalling $627 million and $307 million respectively. This influx of capital has contributed to a surge in prices. Bitcoin reached $120,027, up 2.55% daily and nearly 10% weekly, with a market cap of $2.39 trillion. Ethereum hit $4,480 during the rally, while Solana and Binance's BNB reached $231 and an all-time high of $1,108 respectively.
Bitcoin futures market witnessed $134.7 million in liquidations over the last 24 hours, with $117 million attributed to shorts. This indicates significant market activity and volatility.
President Trump floated the idea of handing out $1,000-$2,000 stimulus checks funded by tariff revenue, echoing Alexander Hamilton's proposal from the early United States. Meanwhile, cryptocurrencies continue to gain traction, with Bitcoin and Ethereum leading the way in terms of inflows and price increases.
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