Leading coins were among the gains Sunday overnight after Democratic presidential nominee Kamala Harris mentioned cryptocurrencies for the first time during her election campaign.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:45 p.m. EDT) |
| Bitcoin BTC/USD | +1.13% | $63,890.89 |
| Ethereum ETH/USD | +0.04% | $2,611.43 |
| Dogecoin DOGE/USD | -1.64% | $0.1077 |
What Happened: Bitcoin broke out of its sideways movement and nearly touched $64,000 as news of Harris' endorsement started tricking in. The leading cryptocurrency experienced volatile price swings over the past few hours.
Ethereum too breached past $2,600, witnessing a substantial spike in trading volumes.
In the past 24 hours, 53,409 traders were liquidated, with the total liquidations at $131.21 million. Upside bets accounted for $86 million of the total liquidations.
Bitcoin's Open Interest rose marginally by 0.88% in the last 24 hours to $34.94 billion. The number of traders placing bearish bets on the coin surpassed those going long, as per Long/Short Ratio.
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 9:45 p.m. EDT) |
| Helium (HNT) | +13.11% | $7.82 |
| Sui (SUI) | +6.85% | $1.57 |
| Bittensor (TAO) | +5.82% | $493.14 |
The global cryptocurrency market stood at $2.23 trillion, following an increase of 0,54% in the last 24 hours.
Stock futures rose slightly overnight on Sunday. The Dow Jones Industrial Average Futures lifted 63 points, or 0.15%, as of 9:45 p.m. EDT. Futures tied to the S&P 500 were up 0.27%, while Nasdaq 100 Futures gained 0.53%.
The uptick followed a record-breaking week that saw blue-chip indexes like the Dow and the S&P 500 clocking new all-time highs after the Federal Reserve dropped interest rates for the first time in more than four years.
Investors would keep an eye out for the manufacturing and service sector data due on Monday to further assess the soft landing scenario.
See More: Best Cryptocurrency Scanners
Analyst Notes: Widely-followed cryptocurrency analyst Kingpin Crypto indicated a probable retreat to the $60,000 range if $64,000 holds as resistance.
"If price starts closing above supply, then it’s game over for the bears as I see no resistance above until 70,000," the analyst remarked.
Prominent analyst Ali Martinez predicted an “altcoin season,” with the overall market capitalization reaching $1 trillion sooner rather than later.
He also noted the diminishing Bitcoin dominance that would pave the way for an altcoin rally.
Photo by Avi Rozen on Shutterstock
Read Next:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
