Bitcoin Surges Toward $120k as Crypto Markets Ignite on August 11

Bullish stampede: BTC's parabolic rally leaves traditional assets choking on dust.

Price pumps and FOMO

The king of crypto isn't just climbing—it's rewriting the rules of wealth creation while Wall Street analysts scramble to downgrade their 'overvalued' calls. $120k isn't a target anymore; it's a pit stop.

Altcoins join the party

Ethereum, Solana, and other majors ride Bitcoin's coattails as liquidity floods the ecosystem. Even the SEC's usual killjoy rhetoric can't dampen this rally.

The closer

While bankers debate 'intrinsic value,' decentralized networks are busy printing generational wealth—and making 8% bond yields look like medieval relic. Welcome to the new financial system.

Pump.fun Leads the Gainers 

Several altcoins outperformed. PUMP token surged 18.25% to $0.003686, with $398.1 million in trades. Lido DAO (LDO) climbed 13.76% to $1.51 after whale wallets boosted holdings. MemeCore (M) advanced 5.06% to $0.4673 on $18.2 million volume.

However, others fell sharply. Fartcoin (FARTCOIN) dropped 7.09% to $0.9919 with $213.1 million traded. Aerodrome Finance (AERO) slipped 6.94% to $1.16, while Tezos (XTZ) lost 4.46% to $0.84.

The rally comes on the heels of a US Senate proposal suggesting that 5% of the federal reserves be allocated to Bitcoin. Additionally, ICE collaborated recently with chainlink to tokenize forex and metals data, boosting institutional confidence.

Market Overview

Moreover, DeFi trading volume reached $45.89 billion, increasing by 23.03% of all activity. On the other side Stablecoins dominate with a $193.48 billion, which is about 97.08% of daily trades. 

The Fear and Greed Index was reading at 62, which usually is an indication of a bullish mood in the market. The Altcoin Season Index was at 34, meaning bitcoin is the one dominating.

Ethereum surged in derivatives trading, with monthly volume increasing by 47.8% to reach $413.6 trillion. Weekly funding rates moved by 77.5%, pushing ETH closer to $4.3K. This week, ETF inflows amounted to $461 million, with BlackRock’s IBIT holding onto 254,000 ETH.

In addition, rallies driven by ecosystems kept the momentum going. LayerZero (ZRO) saw a 23% increase following a $110 million proposal for a Stargate acquisition. Meanwhile, ZORA surged by 46% thanks to rising activity around the Base App coin. 

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