Leading cryptocurrencies stagnated, while stocks closed lower on Monday after President Donald Trump hinted at a “large-scale” assault on Iran.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:30 p.m. EDT) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -0.05% | $76,797.74 |
| Ethereum (CRYPTO: ETH) |
+0.83% | $2,127.26 |
| XRP (CRYPTO: XRP) | -0.07% | $1.38 |
| Solana (CRYPTO: SOL) | +0.37% | $85.10 |
| Dogecoin (CRYPTO: DOGE) | -1.81% | $0.1043 |
Crypto Goes Into ‘Extreme Fear’
Bitcoin witnessed volatile trading between $76,000 and $77,000, with volumes soaring 76% over the past 24 hours. Ethereum also experienced rapid swings between $2,078 and $2,155, while Dogecoin fell nearly 2%.
Cryptocurrency-related stocks slipped, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 6.08% and 5.74%, respectively.
Over $300 million was liquidated in the past 24 hours, with long position traders again taking the majority of the losses, according to Coinglass data.
Bitcoin’s open interest rose 1.07% over the last 24 hours. A rise in open interest while prices trade sideways typically indicates a potential price breakout.
The market slipped into “Extreme Fear,” according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
| Cryptocurrency (Market Cap>$100 M) | Gains +/- | Price (Recorded at 9:30 p.m. EDT) |
| OriginTrail (TRAC) | +19.77% | $0.3874 |
| Centrifuge (CFG) | +16.54% | $0.2976 |
| Injective (INJ) | +14.10% | $5.20 |
The global cryptocurrency market capitalization stood at $2.56 trillion, following a slight increase of 0.03% over the last 24 hours.
Stocks Fall As Hostilities Resume
Major indexes started the week in the red. The S&P 500 dipped 0.07% to end at 7,403.05 , while the tech-focused Nasdaq Composite slid 0.51% to close at 26,090.73
The Dow Jones Industrial Average was the silver lining, rallying 159.95 points, or 0.32%, to settle at 49,686.12.
War developments kept investors on edge as Trump said in a Truth social post that he had delayed an attack on Iran scheduled for Tuesday at the behest of Gulf leaders.
Trump said he has directed the troops to be prepared for a “full, large scale assault” if an “acceptable deal is not reached.”
Where Does BTC’s Bottom Lie?
On-chain analytics firm Santiment pointed to a healthy whale accumulation trend for Bitcoin, with wallets holding at least 100 BTC up 11.2% from a year ago.
“Historically, rising whale wallet counts are viewed as a sign that key stakeholders still have confidence in Bitcoin’s future value and scarcity,” Santiment stated.
CryptoQuant, another popular analytics platform, projected $65,900–$70,500 as the price range for this cycle’s bottom, citing the Bitcoin HODL Waves indicator.
The indicator helps identify market peaks and bottoms by examining how long various cohorts keep their supply.
“If $70,500 holds, we’ll slowly grind out a bottom in the upper range. If it breaks, we’ll need to re-evaluate lower support structures,” CryptoQuant added.
Image via Shutterstock/ Robert V Schwemmer
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