Leading cryptocurrencies lifted on Monday, while major stocks closed lower as investors parsed President Donald Trump’s latest hints on a potential Iran ceasefire.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:30 p.m. EDT) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +2.04% | $67,934.87 |
| Ethereum (CRYPTO: ETH) |
+3.33% | $2,075.14 |
| XRP (CRYPTO: XRP) | -0.01% | $1.33 |
| Solana (CRYPTO: SOL) | +1.72% | $83.92 |
| Dogecoin (CRYPTO: DOGE) | +0.57% | $0.09203 |
Crypto Heavyweights Lift
Bitcoin spiked to $68,000 late evening as trading volume jumped 58% over the last 24 hours. Ethereum also rallied to $2,088 late in the day, fueled by robust buying momentum. XRP and Dogecoin, however, stagnated.
Shares of Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closed down 3.64% and 0.49%, respectively.
Over $262 million in cryptocurrency holdings were liquidated in the last 24 hours, with short-term traders suffering the most losses.
Open interest in Bitcoin futures rose 2.29% in the last 24 hours. Sentiment among Binance retail and whale traders also remained bullish, according to the Long/Short ratio.
Despite these developments, “Extreme Fear” sentiment persisted in the market, 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) |
| River (RIVER) | +21.11% | $16.92 |
| Sentient (SENT) | +11.96% | $0.2706 |
| Audiera (BEAT) | +10.50% | $0.5600 |
The global cryptocurrency market capitalization stood at $2.32 trillion, following an increase of 1.19% from the previous day.
Stocks Crack Even As Trump Hints At Iran Talks
Major indexes closed in the red on Monday. The S&P 500 slid 0.39% to settle at 6,343.72, while the tech-focused Nasdaq Composite fell 0.73% to close at 20,794.64.
The Dow Jones Industrial Average bucked the decline, gaining 49.50 points, or 0.11%, to end at 45,216.14.
Iran war developments continued to weigh on the market. Trump said the U.S. is in “serious discussions” with a “new, and more reasonable, regime” to end military operations.
In other news, Fed Chair Jerome Powell downplayed the need for imminent rate hikes, adding, “Inflation expectations appear to be well-anchored.”
Still Time Before BTC Bottoms?
Blockchain analytics firm CryptoQuant stated that the adjusted Net Unrealized Profit & Loss for long-term Bitcoin holders is approaching a “critical inflection point,” although the cycle’s final stage is not yet complete.
CryptoQuant added that while the indicator has tumbled since the October peak, it remains marginally above zero.
“Until LTHs transition decisively into negative NUPL territory, the probability of a premature bottom remains elevated. The current environment resembles a late-stage stress phase rather than full capitulation,” the firm added.
Widely followed cryptocurrency analyst and trader Michaël van de Poppe said that despite the uptick, the direction is downward instead of upward.
“Ideal moment to accumulate larger positions on your holdings as it might be the final stage of the bear,” Van De Poppe predicted.
Photo Courtesy: Hi my name is Jacco on Shutterstock.com
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