Leading cryptocurrencies moved sideways on Sunday ahead of a week packed with key inflation data.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:45 p.m. ET) |
| Bitcoin BTC/USD | +0.32% | $96,829.94 |
| Ethereum ETH/USD | +0.77% | $2,648.76 |
| Dogecoin DOGE/USD | -0.22% | $0.2522 |
What Happened: Bitcoin consolidated between $95,000 to $97,000. The leading cryptocurrency dipped to an intraday low of $94,745 late afternoon, before recovering to $97,000.
Ethereum wobbled in the $2,600 zone, as bulls waited for a decisive breakout.
Cryptocurrency liquidations reached $228 million over the last 24 hours, with long liquidations accounting for over $146 billion.
Bitcoin's Open Interest rose marginally by 0.36% in the last 24 hours. More than 51% of Bitcoin futures traders were short Bitcoin, according to the Long/Short Ratio.
Market sentiment remained in the "Fear" zone, according to the Crypto Fear & Greed Index, indicating the possibility of further price corrections.
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 7:45 p.m. ET) |
| Bittensor (TAO) | +6.67% | $370.23 |
| Litecoin (LTC) | +6.27% | $111.27 |
| Artificial Superintelligence Alliance (FET) | +6.26% | $0.7792 |
The global cryptocurrency market capitalization stood at $3.17 trillion, growing by 0.40% in the last 24 hours.
Stock futures ticked higher Sunday evening. The Dow Jones Industrial Average Futures rose 68 points, or 0.15%, as of 7:45 p.m. EDT. Futures tied to the S&P 500 gained 0.26%, while Nasdaq 100 Futures added 0.38%.
The uptick comes ahead of crucial macroeconomic data due this week, including the consumer price index report on Wednesday and the producer price index on Thursday.
See More: Best Cryptocurrency Scanners
Analyst Notes: Popular cryptocurrency analyst and trader Michaël van de Poppe anticipated a "strong week" for cryptocurrencies ahead, aligning with the release of CPI and PPI data.
"This week is comparable to any previous crisis period," Van De Poppe remarked. "During crisis periods, you’d want to be bullish, and maximum pain is upwards, not down."
Another well-known cryptocurrency researcher, Ali Martinez, weighed in on the possibility of an Ethereum rally.
All eyes on $2,600! If this key support level holds, ETH could gain momentum for a bounce toward $3,000 or even $4,000," the analyst projected.
Photo by Igor Faun on Shutterstock
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