Leading cryptocurrencies mirrored stock gains on Monday, as investors set aside tariff threats by President Donald Trump.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. ET) |
| Bitcoin BTC/USD | +1.77% | $98,005.07 |
| Ethereum ETH/USD | +3.22% | $2,702.25 |
| Dogecoin DOGE/USD | +3.48% | $0.2574 |
What Happened: Bitcoin rose to an intraday high of $98,333, as the leading cryptocurrency looked to recapture levels above $100,000 lost during the ‘Black Sunday’ crash.
Ethereum broke above $2,700 after stagnating in the $2,600 zone over the weekend.
Cryptocurrency liquidations reached $146 million over the last 24 hours, with short liquidations outnumbering longs.
About $500 million in short positions further risked liquidations if Bitcoin reclaims $101,500.
Bitcoin's Open Interest rose by 3.46% in the last 24 hours, with more than 53% of BTC futures traders going long on the apex digital asset.
Market sentiment flipped into the "Neutral" zone from "Fear," according to the Crypto Fear & Greed Index, indicating a market balance.
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. ET) |
| Raydium (RAY) | +16.82% | $5.50 |
| Helium (HNT) | +12.95% | $3.86 |
| Virtuals Protocol (VIRTUALS) | +12.36% | $1.27 |
The global cryptocurrency market capitalization stood at $3.21 trillion, increasing by 2.07% in the last 24 hours.
Stocks edged higher on Monday. The Dow Jones Industrial Average rose 167.01 points, or 0.38%, to close at 44,470.41. The S&P 500 gained 0.67%, ending at 6,066.44, while the tech-focused Nasdaq Composite lifted 0.98% to close at 19,714.27.
Trump announced plans to impose a 25% tariff on all steel and aluminum imports, reigniting trade tensions
Investors awaited key macroeconomic data this week, including the consumer price index report slated for Wednesday and the producer price index on Thursday. Additionally, Federal Reserve Chair Jerome Powell will testify to Congress about the state of the economy and inflation.
See More: Best Cryptocurrency Scanners
Analyst Notes: Popular blockchain analytics firm Santiment noted a shift in trader attention from meme coins to Bitcoin and Layer-1 assets, reflecting a more stable and sustainable market environment
"Collectively, the top Layer-1 assets are getting 44.2% of discussions among specific coins," Santiment said. "When traders pivot back to assets with strong utility and established market positions, it suggests a healthier market cycle."
Popular cryptocurrency analyst and trader Rekt Capital highlighted Bitcoin's successful post-breakout retest.
"Price is performing the key technical steps to fully confirm the bull flag breakout so as to set itself up for trend continuation going forward. $96,700 needs to hold," the analyst remarked.
Photo by Avi Rozen on Shutterstock
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