Bitcoin (BTC) Reaches $110,651, Nearing Its May All-Time High After Bouncing From a $100K Low

Bitcoin hit a high of $110,651 on Monday, nearing its May all-time high of $111,814, as it recovered from a low of $100,000, pushing total crypto market gains over 5%.

Bitcoin rose as high as $110,651, its highest since June 13, and was last trading at $109,625, up 1.73% in the past 24 hours. The world’s largest cryptocurrency is now about 2.24% away from its all-time high.

Bitcoin is up nearly 5% for the week, recovering from a low of $100,377 hit on June 5.

The crypto market cap is now in the green, with major altcoins following Bitcoin’s lead. World no.2 crypto Ethereum rose 8.86% to trade above $2,771. Other tokens, such as Chain (LINK), Stellar (XLM), and Aave (AAVE), saw gains of up to 18%.

Dogecoin was trading at $0.1918, up 4.23% in the past 24 hours, though it is still down 1.98% for the week.

A whopping $456 million was liquidated in the past 24 hours, with $374 million coming from short positions, according to CoinGlass.

The liquidations come as crypto traders saw huge swings in prices on Monday, with Bitcoin dropping to as low as $105,000 before recovering to trade back above $108,000.

In other news, Dogecoin Foundation has partnered with Heritage Distilling Holding Company, the largest craft distillery in North America, to launch House of Doge Bourbon, a whiskey collection inspired by the meme coin.

The limited-edition collection will feature three unique bourbons, each embodying a core aspect of the Dogecoin community—'Doge Together,' 'Doge Tip,' and 'Doge Fired.' Each bottle will be hand-numbered and packaged in a collectible wood box.

House of Doge Bourbon will be available for purchase exclusively through the Heritage Distilling website and at select retail stores in the fourth quarter of 2024. A portion of the proceeds from the sale of the bourbons will be donated to the Dogecoin Foundation to support its mission of funding and supporting projects that align with Dogecoin's values.

This partnership marks a significant step in integrating cryptocurrency with mainstream consumer brands, catering to the overlapping fan bases of both Dogecoin and Heritage Distilling.

"We are thrilled to partner with Heritage Distilling to create this unique collection of bourbons that celebrate the spirit of Dogecoin," said Lee Stixner, CEO of the Dogecoin Foundation. "We believe that this collaboration will bring joy to both communities and support the Foundation's efforts to fund and support projects that align with Dogecoin's values."

"At Heritage Distilling, we are constantly striving to innovate and create products that will be enjoyed by generations to come," added Paul Stevens, CEO of Heritage Distilling Holding Company. "We are excited to collaborate with the Dogecoin Foundation to develop a collection of artisanal bourbons that capture the essence of both brands."

This venture further cements Dogecoin's cultural footprint, merging crypto enthusiasm with a surprising culinary spin. It remains to be seen what other ventures the meme coin will embark on next.