Bitcoin hits $77,400 as $330 million wiped out in 24 hours
Bitcoin shot up to around $77,400 on Tuesday after a wild day of trading, with more than 114,000 traders liquidated and $330 million wiped out in just 24 hours.
This surge was fueled by heavy derivatives action and forced sell-offs.
Ethereum also got a boost, rising 2% to nearly $2,362.
Altcoins gain, market cap $2.6T
Altcoins like XRP, BNB, Solana, Tron, Dogecoin, and Cardano saw gains up to 2.5%, while Hyperliquid slipped by 2%.
The total crypto market cap climbed 2% to hit $2.6 trillion, even as stocks and oil prices bounced around, thanks to persistent inflation risks and delayed rate-cut expectations.
On top of that, big investors ("whales") and more institutional players are backing Bitcoin. As Riya Sehgal from Delta Exchange put it, sentiment is supported by growing institutional acceptance.