Original | Odaily
Author | Azuma
Original Title: ETH Breaks Through $3,000, BTC Reaches New High, Will the Altcoin Season Finally Arrive?
The cryptocurrency market seems to have entered an accelerated upward phase. After a significant surge the night before, the market experienced an even more violent rally last night.
OKX data shows that BTC briefly rose to 117,548.2 USDT last night, currently reporting at 115,408 USDT as of 8:30 this morning, with a 24-hour increase of 3.75%. Even more surprisingly, the altcoin bellwether ETH, stimulated by multiple positive factors, broke through the $3,000 mark last night, reaching a high of 3,002.99 USDT, currently reporting at 2,972.21 USDT as of 8:30 this morning, with a 24-hour increase of 5.77%; another altcoin leader SOL is currently reporting at 162.7 USDT, with a 24-hour increase of 4%.
Influenced by the overall market uptrend (especially ETH's revival), the altcoin market has also seen a strong recovery. As of 8:30 this morning, multiple coins in the top 100 altcoins recorded double-digit gains, with SUI reporting at 3.42 USDT, a 24-hour increase of 11.7%; ARB reporting at 0.3915 USDT, a 24-hour increase of 11.1%; PEPE reporting at $0.00001218, a 24-hour increase of 11.2%; PENGU reporting at 0.0194 USDT, a 24-hour increase of 26.18%...
CoinGecko data shows that the total cryptocurrency market value has now exceeded $3.669 trillion. In terms of market sentiment, crypto user trading enthusiasm has also significantly increased, with today's fear and greed index reaching 71, currently rated as "greedy".
In derivatives trading, Coinglass data shows that over the past 24 hours, total liquidations reached $1.078 billion, with the majority being short position liquidations at $969 million. By cryptocurrency, BTC liquidations were $583 million, and ETH liquidations were $242 million.
ETH Breaks Through $3,000, BTC Reaches New High, Will the Altcoin Season Finally Arrive?
Reasons for the Rise: Tariff "Desensitization", Institutional Involvement, Rate Cut Expectations
[... rest of the text continues in the same translated manner]
It has been too long since the last "Altcoin season", so long that the term has become a joke, and the market seems to have lost the courage to imagine again.
Will this time be different?
