Leading cryptocurrencies held steady, while stock futures lifted Tuesday evening after President Donald Trump extended the ceasefire with Iran indefinitely.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:15 p.m. EDT) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +0.22% | $76,357.94 |
| Ethereum (CRYPTO: ETH) |
+0.06% | $2,325.09 |
| XRP (CRYPTO: XRP) | +0.09% | $1.43 |
| Solana (CRYPTO: SOL) | +0.72% | $86.36 |
| Dogecoin (CRYPTO: DOGE) | -0.49% | $0.09521 |
Crypto Market Consolidates
Bitcoin oscillated between $74,800 and $76,800, while trading volume remained muted. Ethereum also wobbled in the $2,300 region, while XRP and Dogecoin saw subdued activity.
Shares of Strategy Inc. (NASDAQ:MSTR) and Coinbase Global Inc. (NASDAQ:COIN) closed down 4% and 7.41%, respectively.
Nearly $270 million was liquidated in the past 24 hours, nearly evenly split between long and shorts, according to Coinglass data. About $600 million in Bitcoin shorts were at risk of liquidation if the apex cryptocurrency reclaimed $80,000.
Open interest in Bitcoin futures fell 0.05% over the last 24 hours. Whale and retail traders on Binance continued to be bearish on BTC, evidenced by higher number of shorts vis-à-vis longs.
Top Gainers (24 Hours)
| Cryptocurrency (Market Cap>$100 M) | Gains +/- | Price (Recorded at 9:15 p.m. EDT) |
| RaveDAO (RAVE) | +35.62% | $1.47 |
| Meteora (MET) | +34.03% | $0.1977 |
| MemeCore (M) | +22.93% | $4.29 |
The global cryptocurrency market capitalization stood at $2.56 trillion, following a modest increase of 0.26% in the last 24 hours.
Stock Futures Spike
Stock futures rallied on Tuesday evening. The Dow Jones Industrial Average Futures rose 227 points, or 0.46%, as of 8:36 p.m. EDT. Futures tied to the S&P 500 climbed 0.53%, while Nasdaq 100 Futures gained 0.67%.
The uptick came after Trump extended the two-week ceasefire with Iran, until “discussions are concluded, one way or the other.” He, however, asserted that the U.S. blockade of the Strait of Hormuz will continue.
Earlier, Iran said that it didn’t send any delegation to Pakistan to negotiate with the U.S., according to regime-affiliated media IRIB.
Oil prices were highly volatile, with West Texas Intermediate crude futures climbing to $94.36 before slipping back below $90 later in the day.
Bitcoin To Bottom In 3 Months?
Widely followed cryptocurrency analyst and trader Killa said Bitcoin is 212 days into its current bear market, with historical data showing fresh lows typically form in second quarter and third quarter after the 200-day mark from cycle tops.
“If history repeats once again, BTC likely has around 3 months left to establish its bear market bottom,” the analyst added.
Michaël van de Poppe, another well-known cryptocurrency commentator on X, noted Bitcoin’s slight correction hasn’t really altered its overall momentum or technical structure.
“The market isn’t pricing the news-related mentions of Trump and Iran today with a lot of value as it’s a lot of chess play between the two,” the analyst added.
Photo Courtesy: Marc Bruxelle on Shutterstock.com
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