Leading coins jogged while stocks sank on Thursday as the Securities and Exchange Commission scaled back cryptocurrency oversight.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:45 p.m. ET) |
| Bitcoin BTC/USD | +1.63% | $98,192.29 |
| Ethereum ETH/USD | +0.43% | $2,734.93 |
| Dogecoin DOGE/USD | -0.68% | $0.2536 |
What Happened: Bitcoin rose above $98,000 for the first time in a week, clocking an intraday high of $98,767.19.
Ethereum, meanwhile, oscillated in the $2,700 zone, hitting a peak of $2,770.03 for the day.
The market reacted to the SEC relaxing its enforcement approach, replacing its cryptocurrency oversight unit with a smaller cyber fraud unit.
Cryptocurrency liquidations reached $249.79 million in the last 24 hours, with $171 in short positions getting wiped out.
Bitcoin's Open interest surged by 4.25%. Interestingly, the number of traders shorting the apex cryptocurrency was higher than those betting on its increase, according to the Long/Short ratio.
Meanwhile, the market sentiment flipped from "Neutral" to "Greed," according to the Crypto Fear & Greed Index.
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 7:45 p.m. ET) |
| Story (IP) | +82.66% | $5.07 |
| Berachain (BERA) | +28.83% | $8.42 |
| Sonic (S) | +24.65% | $0.8704 |
The global cryptocurrency market capitalization stood at $3.23 trillion, rising 1.49 % in the last 24 hours.
Stocks reversed from record highs on Thursday. The S&P 500 slid 0.43% to close at 6,117.52. The Dow Jones Industrial Average lost 450.94 points, or 1.01%, to end at 44,176.65, while the tech-focused Nasdaq Composite dipped 0.47% to close at 19,962.36
The sell-offs followed a grim fiscal 2026 forecast by mega-retailer Walmart, Inc. WMT. Shares of the company plunged 6.53%.
See More: Best Cryptocurrency Scanners
Analyst Notes: Widely followed cryptocurrency analyst and trader Rekt Capital observed a bullish divergence was playing out for Bitcoin
"And a daily close above ~$97,700 followed by a successful retest would see the bull div enable price trend continuation to the upside," the chartist added.
Ali Martinez, another well-known market researcher, reiterated the prognosis.
He described $97,533 as a "key" resistance level for Bitcoin. "A sustained breakout above this level could signal further upside."
Photo by CMP_NZ on Shutterstock
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