Leading cryptocurrencies meandered, while stocks rallied to new highs on Monday amid key political and geopolitical developments.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -0.09% | $91,251.43 |
| Ethereum (CRYPTO: ETH) |
-0.79% | $3,099.73 |
| XRP (CRYPTO: XRP) | -0.60% | $2.05 |
| Solana (CRYPTO: SOL) | -1.62% | $139.04 |
| Dogecoin (CRYPTO: DOGE) | -1.64% | $0.1367 |
Crypto Momentum Tapers
Bitcoin rose to $92,390 in the early trading hours before losing steam and retreating to $91,000 region. Trading volume nearly doubled over the last 24 hours to $38.78 billion.
Ethereum traded in a tight band around $3,000, while volume surged 66% to $19.73 billion.
Shares of cryptocurrency-related companies, including Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR), closed up 3.11% and 3.56%, respectively
Benzinga Edge delivers real-time stock alerts, trade ideas, and professional investing tools to help you navigate the market. Find out more about MSTR and BMNR here.
Over $230 million was liquidated from the cryptocurrency market in the last 24 hours, according to Coinglass, with over 50% accounting for long liquidations.
Bitcoin’s open interest fell 2.82% in the last 24 hours, while the percentage of Binance traders placing long bets on the apex cryptocurrency declined from 69% to 65%.
Top Gainers (24 Hours)
| Cryptocurrency (Market Cap>$100 M) | Gains +/- | Price (Recorded at 8:30 p.m. ET) |
| Story (IP ) | +23.75% | $3.04 |
| Verge (XVG ) | +18.56% | $0.007063 |
| BUILDon (B ) | +18.03% | $0.2720 |
The global cryptocurrency market capitalization stood at $3.11 trillion, following a slight increase of 0.11% in the last 24 hours.
Stocks Close At Record Highs
Stocks kicked off the new trading week on a high. The Dow Jones Industrial Average lifted 86.13 points, or 0.17%, ending at a record high of 49,590.20. The S&P 500 reached a record close of 6,977.2 after rallying 0.16%. The tech-heavy Nasdaq Composite closed up 0.26% at 23,733.90.
Gold and silver also surged to record highs as investors reassessed the Federal Reserve’s independence fears after the Department of Justice opened a criminal probe into Chair Jerome Powell.
Oil prices rose slightly, with the U.S. West Texas Intermediate trading up 0.42% at $59.75 a barrel as geopolitical tensions between the U.S. and Iran kept global energy markets on edge.
Will Bitcoin Hit $100,000 This Month?
Blockchain analytics firm CryptoQuant highlighted that short-term holders, i.e, those holding Bitcoin for less than 155 days, were increasingly selling at a loss even as the apex cryptocurrency continued its uptrend.
“Historically, this misalignment between rising prices and capitulating retail investors often marks areas of opportunity, where short-term fear contrasts with the structural strength of the upward price trend,” CryptoQuant stated.
Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, noted Bitcoin’s resilience above the 21-day moving average near $90,000, indicating significant accumulation.
“In that regard, cracking $92,000 clearly and we’ll see $100,000 in max. 10 days,” Van De Poppe projected.
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