Leading cryptocurrencies spiked on Monday, as a research group projected a new all-time high for Bitcoin in the second quarter.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:45 p.m. ET) |
| Bitcoin BTC/USD | +1.69% | $95,216.72 |
| Ethereum ETH/USD | +1.48% | $1,804.56 |
| Dogecoin DOGE/USD | +1.00% | $0.1800 |
What Happened: The cryptocurrency touched an intraday high of $95,598.49 early morning before dipping below $93,000. BTC reclaimed $95,000 overnight.
Bitcoin was on course to close April with double-digit gains, recovering some of the decline from February and March.
Ethereum followed a similar path, rising to the early $1,800s, then falling to $1,750 before recovering above $1,800. Unlike its elder sibling, ETH was down 1.4% in April.
Bitcoin’s market dominance stayed at 63%, while Ethereum’s was stable at 7.3%.
Analysts at global bank Standard Chartered predicted Bitcoin to surge to $120,000 in the second quarter, citing strategic reallocation away from U.S. assets, combined with growing institutional demand.
About $230 million was liquidated from the cryptocurrency market in the last 24 hours, with long position traders losing more than bearish short traders.
Bitcoin’s Open Interest rose by 2.78% in the last 24 hours, indicating higher market liquidity and the number of outstanding futures contracts.
The market sentiment was one of "Greed," according to the Crypto Fear and Greed Index, signaling higher buying pressure.
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 8:45 p.m. ET) |
| Virtuals Protocol (VIRTUAL) | +43.53% | $1.51 |
| Floki (FLOKI) | +14.31% | $0.00008855 |
| Bonk (BONK) | +11.00% | $0.00002056 |
The global cryptocurrency market capitalization stood at $2.98 trillion, following an increase of 1.31% in the last 24 hours.
Major stock averages popped for a fifth straight day. The Dow Jones Industrial Average rose 114.09 points, or 0.28%, to end at 40,227.59. The S&P 500 eked out a gain of 0.06% to finish at 5,528.75. The tech-heavy Nasdaq Composite, however, edged 0.1% lower to end at 17,366.13.
Treasury Secretary Scott Bessent updated on the progress of U.S. trade negotiations, hinting at a potential deal with India. On China, Bessent said it was up to the Asian giant to de-escalate trade tensions.
This week, investors will parse the earnings of mega-cap companies like Microsoft Corp. MSFT and Amazon.com Inc. AMZN.
See More: Best Cryptocurrency Scanners
Analyst Notes: Popular cryptocurrency trader and chartist Daan Crypto Trades drew attention to the Bitcoin Rainbow Chart, with the price moving back into the green sector.
"It’s probably safe to assume this won’t get into the darker regions this cycle but somewhere below that would still make for an interesting move," the analyst added.
As the name suggests, this indicator uses the colors of a rainbow to estimate Bitcoin’s long-term price trend and whether the asset is undervalued or overvalued based on historical trends.
Cryptocurrency analyst Ali Martinez weighed in on Ethereum's prospects, stating that the second-largest cryptocurrency needed a daily close above $1,950 to generate a buy signal from the SuperTrend indicator.
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