Key Takeaways:
Bitcoin (BTC) climbed past $74,000 on April 13, while Ethereum (ETH) rose above $2,300, as a broad market rally gained momentum on the back of rising trading volumes.
The rally saw over $200 million in short liquidations across major exchanges in the last 24 hours, according to data from Coinglass, indicating a squeeze on bearish positions.
Bitcoin reached a high of $74,058 before settling near the key level, representing a 4.5% increase in 24 hours, per CoinGecko data as of 18:00 UTC. Ethereum followed, hitting $2,312.45, as total crypto market capitalization pushed above $2.8 trillion.
The breach of these psychological price points suggests a renewal of bullish momentum. The next major resistance for Bitcoin is anticipated near the $75,000 level, while Ethereum faces its next test at $2,400.
The surge in prices was accompanied by a significant uptick in trading activity. Total 24-hour trading volume across the crypto market increased by 30% to over $120 billion, signaling strong conviction behind the move. The rally appears to be driven by broad market participation rather than a single catalyst, with most assets in the top 100 showing gains. This widespread positive performance could attract further retail and institutional investment, potentially sustaining the upward trend and leading to increased market-wide volatility in the near term.
This article is for informational purposes only and does not constitute investment advice.
