Copyrighted Image by: Reuters

Bitcoin soared to an 18-month high of $36,000 on Binance today, before settling around $35,300. This upward trend triggered a market-wide rally and resulted in a $160 million liquidation of short positions within a 24-hour timeframe. Consequently, Bitcoin's market dominance climbed to 51%, outperforming most altcoins except for Solana (SOL), Uniswap's UNI, ADA, and DOGE.

SOL maintained its bullish trend with a significant 33% surge over the past week and a daily gain of 12%, trading at approximately $43.60. Other altcoins such as UNI, ADA, DOGE, and AAVE also saw substantial gains. AAVE led the top 100 altcoins with a near 16% increase.

On the other hand, Rollbit's RLB experienced the highest loss in the market at 10.4%. Despite this downturn for RLB, the overall cryptocurrency market demonstrated significant growth driven primarily by Bitcoin's impressive surge.

https://www.investing.com/news/cryptocurrency-news/bitcoin-surges-to-18month-high-leads-marketwide-rally-93CH-3220676