Bitcoin Hits New ATH as the Crypto Market Explodes

After many weeks of accumulation and testing resistance levels, the cryptocurrency market has officially entered a new and exciting growth phase. The center of attention on July 10th was on Bitcoin, as the asset broke all previous records to create a new high point in its history.

According to data from SoSoValue, Bitcoin (BTC) gained 2.35% over the past 24 hours, hitting a price of $112,000 and officially setting a new all-time high (ATH). The breaking of a previous ATH is a critically important psychological event, signaling that the market has entered "price discovery" territory and is likely to attract a strong wave of attention from mainstream investors.

The excitement was not limited to Bitcoin. Ethereum (ETH), the market's second-largest asset, showed even more impressive performance with a 6.69% rally, approaching the psychological $2,800 mark. This shows that capital flow is not only focused on BTC but is also flowing strongly into major altcoin ecosystems, with Ethereum as the standard-bearer.

Notably, this rally was led by high-beta sectors, indicating that investor risk appetite has returned in a major way:

The Meme Sector: Led the entire market with a collective 6.81% gain. Prominent tokens like dogwifhat (WIF) rose 13.96%, and notably, MemeCore (M) surged by 58.65%.

The AI Sector: Followed closely behind with a 6.53% gain, in which Virtuals Protocol (VIRTUAL) and ai16z (AI16Z) both posted double-digit gains.

The GameFi and Layer-2 Sectors: Were not far behind, rising 6.45% and 6.23% respectively, with tokens like GALA, IMX, TIA, and OP all seeing impressive growth.

The strength spread across the entire market, from PayFi (+5.40%) with a breakout from Stellar (XLM), to DeFi (+5.02%) led by Ethena (ENA). Market indices from SoSoValue also confirmed an explosive trading day, with indices representing major asset groups like MAG7, MEME, and DEFI all up sharply.

Overall, Bitcoin setting a new ATH has acted as the ultimate catalyst, breaking through the hesitant sentiment and igniting a broad-based rally. The outperformance of high-risk sectors indicates that investor confidence has been firmly re-established, opening up a potentially new and exciting phase for the entire crypto market.