Bitcoin smashes 30k, dominance hits two-year high

Bitcoin broke above US$30,000 for the first time in 10 months on Tuesday morning, sending short liquidations spiralling to US$50mln and opening the possibility for a move above 31k if the bulls remain galvanised. 30k was a key target for bitcoin longs since the start of 2023, when the benchmark cryptocurrency proved itself as among the best-performing asset classes and a safe-haven play amid widespread turmoil in the traditional markets.