Leading cryptocurrencies remained flat, while stock futures fell Sunday evening as investors speculated about a ground invasion of Iran by the U.S.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:25 p.m. EDT) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -0.10% | $66,468.59 |
| Ethereum (CRYPTO: ETH) |
+0.04% | $2,004.16 |
| XRP (CRYPTO: XRP) | +0.05% | $1.33 |
| Solana (CRYPTO: SOL) | -0.06% | $82.28 |
| Dogecoin (CRYPTO: DOGE) | +0.51% | $0.09149 |
Crypto Liquidations Spike
Bitcoin dipped under $65,000 late evening before rebounding above $66,000, triggering liquidations of both leveraged longs and shorts.
Ethereum followed a similar pattern, sliding to an intraday low of $1,939.53 before regaining $2,000. Both assets recorded a sharp jump in 24-hour volumes.
Over $313 million in cryptocurrency positions were liquidated in the past 24 hours, with an overwhelming amount of longs wiped out, according to Coinglass data.
Open interest in Bitcoin futures fell 0.75% in the last 24 hours, but retail and whale Binance traders bought the dip, increasing their long exposure to the apex cryptocurrency.
“Extreme Fear” prevailed in the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
| Cryptocurrency (Market Cap>$100 M) | Gains +/- | Price (Recorded at 9:25 p.m. EDT) |
| siren (SIREN) | +18.79% | $1.82 |
| Sentient (SENT) | +11.96% | $0.01817 |
| AriaAI (ARIA) | +9.76% | $0.3620 |
The global cryptocurrency market capitalization stood at $2.30 trillion, following a decline of 0.08% from the previous day.
Stock Futures Pressured As Iran War Drags On
Stock futures tumbled on Sunday evening. The Dow Jones Industrial Average Futures fell 283 points, or 0.65%, as of 8:41 p.m. EDT. Futures tied to the S&P 500 declined 0.67%, while Nasdaq 100 Futures slid 0.74%.
The sell-off followed a report by The Washington Post that the Pentagon is preparing for “weeks of ground operations” in Iran.
Mohammad Bagher Ghalibaf, Iran’s parliament speaker, reportedly accused the U.S. of covertly planning a ground invasion, warning that Iranian forces are ready to respond if foreign troops enter their territory.
Oil prices climbed amid these developments, with West Texas Intermediate crude futures rallying back over $100 per barrel.
Middle East Tensions Impeding Bitcoin, Says Analyst
Widely followed cryptocurrency analyst and trader Michaël van de Poppe said the escalating Middle East tensions and oil spike would create a risk-off environment, impacting Bitcoin.
“Given that we’re seeing the lows being taken out on Bitcoin already, I wouldn’t be bullish until it cracks $71,000 and there’s some clear certainty in the Middle-East,” the analyst stated.
Ali Martinez, another prominent cryptocurrency analyst, highlighted a surge in cryptocurrency derivatives trading, with combined open interest in Bitcoin and Ethereum hitting nearly $40 billion.
Photo: KateStock / Shutterstock
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