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Bitcoin Jumps Above $111K, XRP, Solana, Ether Rally as Nikkei Hits Record High

Bitcoin surged above $111,000, jumping 3.7% in 24 hours, following bullish on-chain data and positive movements in traditional markets. Other major cryptocurrencies, including XRP, Solana, and Ether, also experienced gains ranging from 3% to 5%. The Nikkei index in Japan reached a record high of 49,000 points, attributed to developments in Japanese politics and strong economic indicators from China. Japan's likely new Prime Minister, Sanae Takaichi, supports Abenomics, which is expected to benefit both stocks and cryptocurrencies. Additionally, China's GDP growth for the third quarter exceeded estimates, further bolstering market confidence. The dollar index decreased, which typically favors dollar-denominated assets like Bitcoin. The CoinDesk 20 Index also rose 3.6%, reflecting the overall positive sentiment in the cryptocurrency market.

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