Bitcoin‘s value soared to unprecedented heights before retracting below the $65,000 threshold. Marking a historic moment, the cryptocurrency is expected to potentially hit further peaks, with projections suggesting a rise to between $125,000 and $150,000 by the latter half of 2025. This surge in Bitcoin’s value underscores its volatile yet upward-trending market trajectory.
Turkish Market’s Crypto Frenzy
As Bitcoin price continues to set new benchmarks, a staggering $715 million worth of cryptocurrencies faced liquidation. In Turkey, the crypto market activity is robust, manifesting a surge in trade volume on domestic exchanges to over 54 billion Turkish Lira, equivalent to nearly $2 billion. This figure signals the growing enthusiasm for cryptocurrency investments among Turks, a sentiment not captured in volumes on global exchanges.
Despite the prevalence of bearish market phases, Turkish investors’ keen interest in digital currencies has not gone unnoticed. Recognizing this, international exchanges have responded by introducing new Turkish Lira trading pairs, further integrating Turkish investors into the global crypto ecosystem.
Spotlight on Top Altcoins in Turkey
On the local front, the altcoin Shiba Inu (SHIB) has captivated Turkish traders, becoming the most traded cryptocurrency within a 24-hour span. The data aggregation platform 21milyon.com offers a continuous stream of critical market insights, such as local exchange listings, altcoin prices, trading volumes, and more, assisting investors to stay informed.
The appetite for altcoins is palpable in Turkey, with Shiba Coin’s trading volume surpassing 12 billion Turkish Lira. This figure is notable considering that the combined volume of all cryptocurrencies on local exchanges has previously dropped to or below this level. In a surprising twist, PEPE Coin follows closely behind as a favored asset, while Tether‘s long-standing dominance is attributed to its depreciation against the Turkish Lira. LUNA and Floki, meanwhile, have secured spots in the top 5, showcasing Turkish investors’ penchant for risk.