On July 8 in the early morning, Bitcoin (BTC) saw a new wave of strong buying, with the price surging rapidly in a short period, breaking through the key $64,000 mark. Ethereum (ETH), the second-largest indicator in the market, also followed suit, driven by massive capital inflows, simultaneously pushing past the $1,800 defense line, boosting overall sentiment in the cryptocurrency market.



**Derivatives market bleeds profusely, 106k traders liquidated**

This recent violent price surge has exacted a heavy price on traders who attempted to "short the top" at resistance levels. The "fuel effect" triggered by stop-losses on short positions further propelled token prices upward.
BTC1.17%
ETH2.60%
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