The price of BTC was adjusted after updating the historical maximum

On the evening of July 9, the Bitcoin exchange rate (BTC) updated the historical maximum, exceeding $ 112.1 thousand on the Coinbase Exchange. After that, the price of the coin was adjusted, but managed to gain a foothold about $ 111 thousand, reports RBC Crypto.

On July 10, the price of BTC ranges about $ 111.3 thousand. At the end of the day, Bitcoin rose 2.3%. BTC capitalization is $ 2.17 trillion, the market share is 65.09%, according to TradingView.

Bitcoin’s growth has three main reasons, said Alexander Kraiko, a leading analyst at CIFRA Markets Cryptobracker. The first is the tax initiative of the US President Donald Trump. The adopted law, known as the Big Beautiful Bill) reduced the fiscal load, expanded the tax benefits for families and gave support to small businesses, which increased the liquidity sent to risky assets, the expert explained.

The second – the stock market at the peak, the S&P index for 500 for several days in a row ups records, Kraiko recalled. He noted that Bitcoin began to grow with a lag, which could indicate the unsolved growth potential.

The third is market expectations associated with the possible resignation of the head of the US Federal Reserve (Fed) Jerome Powell. This enhances hopes for a softer policy, which is traditionally favorable for cryptocurrencies, Kraiko believes.

The Bitcoin course after a jerk was slightly adjusted, but the general conditions in the market contribute to the continuation of growth, the analyst says. According to his estimates, the expected landmark by the end of the year is $ 135 thousand.

At the same time, Ethereum (ETH) in 24 hours increased in price stronger than the first cryptocurrency. The Altcoin course rose by 7%. It is traded about $ 2.8 thousand. The asset is far from its record, its price is 42% lower than a maximum of about $ 4.9 thousand, reached in November 2021.

Other Top 10 cryptocurrencies have also shown growth in the last 24 hours. Cardano (ADA) rose stronger than the rest, it increased in price by 5.8%. Dogecoin (DOGE) has risen in price by 5.7%, SOLANA (SOL) – by 3.4%.

The total capitalization of the cryptorrhist per day increased by 3%to $ 3.48 trillion. From the top 100 cryptocurrencies over the past day the strongest growth of Pudgy Penguins (Pengu), the token of the NFT project of the same name has risen in price by 28%. Not a single cryptocurrency of the first hundred fell in price more than 1%.

“Bears” lost $ 200 million after a new bitcoin maximum. According to Coinglass, in 12 hours since the peak, traders who put Bitcoin falls in aggregate lost about $ 208 million in the liquidations of short positions (shorts) on BTC. More than $ 150 million during the same period had to be forced to close the positions of those who put the courses of other cryptocurrencies.

Liquidation occurs when the price moves against the position of a trader with a credit shoulder and the exchange forcibly closes it at a loss due to a lack of collateral. For example, if the trader has opened a long position (long) by $ 1000 with 10x shoulder, actually using $ 100 of its own funds, and the remaining $ 900 at the exchange, then the decline in bitcoin by 10% will lead to a decrease in the cost of a position to $ 900. The exchange automatically eliminates the deal to return borrowed funds, and the trader will lose all its capital if he did not have additional funds to maintain a position.

The fear index and greed in the cryptornka increased per day by 5 points – from 66 to 71 out of 100 possible. This is the zone of “greed”, the growth of the indicator indicates more and more interest in investors in buying cryptocurrencies.

Earlier, experts noted that in July, side movements with growth potential were expected on the crypto. According to experts, this month it is possible to reach Bitcoin $ 115–118 thousand, and in Ethereum a rise in $ 3 thousand is not excluded.

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