Trump Tweets Touting Economic Performance: Cryptocurrency 'Breaks Through the Roof', US Stock Market Hits All-Time High

On July 11th, according to Coinglass data, the total open interest of Bitcoin futures contracts across the entire network is 701,330 BTC (approximately $81.47 billion), hitting a new all-time high. Among them, the open interest of CME's Bitcoin futures is 154,220 BTC (approximately $17.91 billion), ranking first. The open interest of Binance's Bitcoin futures is 116,840 BTC (approximately $13.57 billion), ranking second.

On July 11th, trader Eugene posted in his personal community, saying, "As long as this time Bitcoin doesn't have a false breakout followed by a sharp drop (currently it seems unlikely, but it can't be completely excluded), Ethereum is likely to break through the key $2800 resistance level. Although I'm not sure about the specific timing (Bitcoin dominance BTC.D may continue to strengthen for a while), I believe the probability of Ethereum breaking through this resistance level has increased significantly today. In Ethereum's history, it has only broken through the $2800 level three times, and each time, the price quickly rose to around $4000. History doesn't repeat exactly, but it often rhymes similarly. I will continue to hold my long position and be ready to embark on a crazy journey."

On July 11th, with Bitcoin approaching $120,000, the cryptocurrency market witnessed a general upward trend. The total market capitalization reached $3.68 trillion, with a 24-hour increase of more than 1%. Within the ETH ecosystem, driven by ETH's breakthrough to $3,000, major assets all saw gains. In the past 24 hours, ETHfi showed a 9% increase. In the meme coin sector, spurred by the upcoming coin launch on Pump.fun, mainstream meme coins in the Solana ecosystem also rose. Fartcoin's market capitalization returned to $1.3 billion, with a 24-hour increase of 19%. Regarding exchange platform tokens, Hyperliquid's HYPE token is approaching its historical high. It is currently trading at $44, with a 24-hour increase of 8%. BNB saw a 24-hour increase of 2.6%.

On July 11th, based on HTX market data, ETH rose above $3000. This is the first time since February of this year. It witnessed a 24-hour increase of 8.8%.

On July 11th, according to Coinglass data, in the event that Bitcoin breaks through $114,000, the total short liquidation intensity on mainstream CEXs will reach $956 million. Conversely, if Bitcoin drops below $110,000, the total long liquidation intensity on mainstream CEXs will reach $2.4 billion. BlockBeats Note: The liquidation chart does not disclose the exact number of contracts to be liquidated or the precise value of the contracts being liquidated. The bars on the liquidation chart actually represent the significance of each liquidation cluster in relation to neighboring liquidation clusters, that is, the intensity.