Bitcoin price has reclaimed a major milestone, soaring past the critical $90,000 mark for the first time in over six weeks. This renewed bullish momentum underscores investors’ growing confidence in the leading cryptocurrency.
According to the latest market data, Bitcoin has posted a 3.3% gain over the past 24 hours and now boasts a weekly climb of 7.3%. This signals a sharp reversal from recent price consolidation and reinforces its dominance in the crypto market. Currently, Bitcoin accounts for 61.6% of the total crypto market capitalization, a percentage that has steadily risen throughout the day.
This upward price trajectory reinforces Bitcoin’s dominance, which recently hit a four-year high — a level not seen since the last major bull cycle, as previously reported.
The improved sentiment isn’t isolated to Bitcoin alone. Several major altcoins have also seen modest gains. Ethereum has increased by 1.5%, XRP by 1%, while Solana (SOL) and Dogecoin (DOGE) are both witnessing a stronger rally, advancing almost 4% each.
These movements have triggered significant liquidations in the derivatives sector. According to data from CoinGlass, total liquidations have surged to approximately $320 million. The majority of these, around $190 million, are short positions — highlighting how many traders were betting against this price breakout.
The combination of Bitcoin’s price recovery, increasing market dominance, and the cascading effect of derivatives liquidations paints a picture of strong upward momentum. Investors appear to be repositioning themselves in anticipation of a potential continuation of the bull trend. As market conditions evolve, Bitcoin remains firmly in the driver’s seat, outshining altcoins and reaffirming its leadership in the broader crypto ecosystem.
The coming days will be crucial in determining whether Bitcoin can hold its ground above the $90K level or if resistance pressure at this psychological threshold forces another pullback. Market watchers will also be keeping an eye on whether this BTC rally cascades into more significant gains for altcoins or if dominance continues to skew in favor of the flagship cryptocurrency.
