Yeliz Akmaca 
The global crypto market capitalization has climbed back above $4 trillion, fueled by a strong Bitcoin rally that began over the weekend. The Bitcoin price surged to a two-week high of $116,000 during early Asian trading hours on Monday, as investors reacted to renewed optimism surrounding a potential U.S.–China trade agreement.
The rally also triggered a wave of liquidations among overleveraged short traders, marking another volatile start to the week across digital asset markets.
Altcoins Follow Bitcoin’s Lead: ETH, SOL, and ADA Surge
After fluctuating between $108,000 and $111,000 last week, Bitcoin regained momentum late Saturday. U.S. Secretary of State Bessent hinted at progress in trade talks with Beijing, suggesting that a deal could be announced after this weekend’s leaders’ summit in Europe. The news instantly boosted risk appetite across markets.
BTC quickly broke above $112,000 and $113,000, and as Asian traders came online, the rally extended past $115,000.
Altcoins mirrored the move, with strong gains across the board:
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Ethereum (ETH) climbed over 7%, trading above $4,200.
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Solana (SOL) gained 5.5%, reclaiming the $200 level.
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Cardano (ADA) rose 4.7%, nearing $0.70.
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Zcash (ZEC) surged over 24%, leading the altcoin market.
This broad-based recovery signals growing confidence and renewed bullish sentiment across crypto markets.
$370 Million in Liquidations as Shorts Get Squeezed
The rapid upswing in Bitcoin and major altcoins dealt a heavy blow to short-term leveraged traders. Data from CoinGlass shows that over $370 million in positions were liquidated within 24 hours, affecting nearly 110,000 traders globally.
Despite the shakeout, analysts say that if Bitcoin can hold above $115,000, the market could see the early stages of a new bullish breakout. This potential shift in sentiment has sparked discussions about whether a new all-time high could be on the horizon.
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