Bitcoin: Path to the Summit

🟦On Wednesday, Bitcoin reached an all-time high of $75,400. The cryptocurrency’s surge was fueled by Trump’s promise to make the U.S. a “Bitcoin superpower.” Trump’s pro-crypto stance has garnered support from influential figures.

🟦The price increase was accompanied by heightened activity in the derivatives market. Trading volumes rose by 161%, reaching $168.17 billion. Options trading also showed growth: volumes increased by 108.91% to $7.01 billion, and open interest rose by 6.69% to $30.73 billion.

🟦As volatility increased, liquidations totaled $279.58 million over the past 24 hours. The Coinbase Premium Index indicated a strong correlation between U.S. demand and price performance.