Leading cryptocurrencies traded in the red overnight on Sunday as renewed U.S.–Iran confrontations threatened a fragile ceasefire.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:20 p.m. EDT) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -1.05% | $59,368.85 |
| Ethereum (CRYPTO: ETH) |
-0.33% | $1,564.89 |
| XRP (CRYPTO: XRP) | -0.28% | $1.04 |
| Solana (CRYPTO: SOL) | +1.12% | $71.26 |
| Dogecoin (CRYPTO: DOGE) | -2.12% | $0.07276 |
Crypto Market In Deep Slumber
Bitcoin attempted a breakout above $60,000, only to encounter sharp selling pressure that drove it below $59,000. Ethereum meandered in the $1,500 region, while trading volume rose 10% over the last 24 hours. XRP and Dogecoin traded in the red.
Over $180 million was liquidated from the cryptocurrency market in the last 24 hours, overwhelmingly from longs, according to Coinglass data
Bitcoin’s open interest fell 0.69% over the last 24 hours. Smart money sentiment remained “extremely bearish,” but traders on Binance, both retail and whales, increased their long exposure.
“Extreme Fear” sentiment prevailed in the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
| Cryptocurrency (Market Cap>$100 M) | Gains +/- | Price (Recorded at 9:30 p.m. EDT) |
| ETHGAS (GWEI) | +21.58% | $0.1600 |
| Velvet (VELVET) | +18.50% | $1.82 |
| Solstice (SLX) | +9.19% | $0.5832 |
The global cryptocurrency market capitalization stood at $2.02 trillion, following a decline of 3.38% over the last 24 hours.
Stocks Rally On Hopes Of De-escalation
Stock futures ticked higher overnight on Sunday. The Dow Jones Industrial Average Futures jumped 147 points, or 0.29%, as of 8:45 p.m. EDT. Futures tied to the S&P 500 climbed 0.40%, while Nasdaq 100 Futures gained 0.19%.
Tensions escalated during the weekend after the U.S. and Iran exchanged fire following an alleged ceasefire violation in the Strait of Hormuz.
Later, a Trump administration official reportedly said that the two sides will “stand down for now” and let vessels move freely in the critical oil shipping point.
‘Pretty Interesting Signal’
Popular cryptocurrency commentator Michaël van de Poppe speculated on Bitcoin’s moves once it breaks back above $61,000.
“It would strengthen the thesis of the bullish divergence, and the markets can target the $65,000 resistance [and old support of the range] as the next target zone,” the analyst said. “The fact that the markets aren’t falling deeper with all the panic and fear combined is actually a pretty interesting signal.”
Ali Martinez, a widely followed cryptocurrency analyst and trader, said that heavy selling by whales, roughly $880 million over the past week, pushed Ethereum below its key support at $1,633
“If this distribution trend continues into next week, the next high-volume demand targets for ETH sit much lower at $1,237 and $1,089,” Martinez said.
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