Leading cryptocurrencies lifted alongside stock futures Sunday as the U.S. and China reached a key trade consensus ahead of a meeting between President Donald Trump and Chinese counterpart Xi Jinping.
Crypto Sentiment Improves From ‘Fear’ To ‘Neutral’
Bitcoin reclaimed $115,000 after nearly two weeks, while trading volume jumped 73% in the last 24 hours.
Similarly, Ethereum's trading volume more than doubled, bringing the token back above $4,000. XRP and Solana also traded in the green.
Cryptocurrency liquidations reached $225 million in the last 24 hours, with $340 million in bearish shorts erased, according to Coinglass.
Bitcoin's open interest rose 5% over the last 24 hours, while funds locked in Ethereum's derivatives jumped by 9%, suggesting high speculative interest.
Meanwhile, more than 55% of Binance traders with open BTC positions were long as of this writing.
The market sentiment improved from "Fear" to "Neutral," according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
| Cryptocurrency (Market Cap>$100 M) | Gains +/- | Price (Recorded at 9:20 p.m. ET) |
|---|---|---|
| TROLL (TROLL ) | +32.62% | $0.1127 |
| Zcash (ZEC) | +31.81% | $362.83 |
| River (RIVER ) | +27.84% | $0.1055 |
The global cryptocurrency market capitalization stood at $3.89 trillion, expanding by 3.09% in the last 24 hours.
Stock Futures Jump On Trade Deal Optimism
Stock futures ticked higher overnight Sunday. The Dow Jones Industrial Average Futures rose 281 points, or 0.59%, as of 8:39 p.m. EDT. Futures tied to the S&P 500 climbed 0.69%, while Nasdaq 100 Futures rallied 0.88%.
The surge comes after top officials from the U.S. and China agreed on a "preliminary consensus" to halt the escalation of 100% tariffs and Chinese rare earths export controls, a significant step toward easing the prolonged trade tensions between the two countries.
Trump is scheduled to meet Chinese President Xi later in the week in Korea to finalize the terms.
Meanwhile, trades priced in a 96% chance that the Federal Reserve will enact a 25 basis point rate cut this week, according to the CME FedWatch tool.
ETH On Track For $5,000?
Widely followed cryptocurrency analyst and trader Daan Crypto Trades noted a contrarian sentiment pattern in Bitcoin, where bearish expectations entering September led to monthly gains, while bullish views into October have coincided with a decline so far.
"Bitcoin’s price has opened & closed within a small 8% price range during the past 4 months," the analyst stated. "A bigger move is coming at some point. I’m assuming the end of 2025 is going to be more volatile than the past few months."
CJ, another popular cryptocurrency commentator on X, was optimistic of ETH's new highs, i.e, above $5,000 this cycle, but cautioned of a bearish false breakout without a daily close over $4,525.
Photo Courtesy: Alexandru Nika on Shutterstock.com
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