Bitcoin, Ethereum and Dogecoin Rise as Sentiment of ‘Greed’ Takes Over: Top Analyst Says Breaking This Resistance Level Could Be ‘Crucial’ for BTC – Grayscale Bitcoin Mini Trust (BTC) Common Units Fractional Undivided Beneficial Interest (ARCA:BTC)

Major cryptocurrencies advanced on Sunday as investors cast aside fears that monetary easing policies would be affected due to the explosive jobs report.

What happened: Bitcoin surged to $95,740 during the evening, capping a turbulent day for the world’s top cryptocurrency. The asset fluctuated between $94,000 and $95,000 for much of the weekend before starting to rise again.

Corrective price actions have been in place since Bitcoin’s rally to $102,000 last week.

Ethereum followed a similar trajectory, falling from a high of $3,700 to $3,000 during the week.

Around $149.81 million was liquidated in the last 24 hours, with upside bets accounting for $100 million.

A further drop to $90,000 will liquidate $417 million in long positions.

However, the market seemed optimistic about a comeback, with 61% of Binance traders betting on Bitcoin to gain based on the Long/Short ratio.

Market sentiment has moved from “neutral” to “greed,” according to the Crypto Fear & Greed Index, indicating an increase in risk appetite.

Top winners (24 hours)

The global cryptocurrency market capitalization stood at $3.3 trillion, down 0.50% over the past 24 hours.

Stock futures were largely unchanged in overnight trading. THE Dow Jones Industrial Average Futures rose 22 points, or 0.05%, as of 7:43 p.m. EDT. Futures contracts linked to S&P500 fell 0.09%, while Nasdaq 100 Futures Contracts fell 0.03%.

Last week’s December jobs report exceeded expectationsnon-farm payrolls marking the strongest growth since March. However, this raised concerns about the pace of interest rate cuts, triggering a sell-off.

This week, investors will focus on key inflation data, such as the Consumer Price Index and the Producer Price Index for December.

See more: Best Cryptocurrency Scanners

Analyst Ratings: Legendary Trader Pierre Brandt noted a head and shoulders chart pattern for Bitcoin, suggesting it could either end, fail as a bear trap, or turn into a broader pattern.

A bearish pattern shows a baseline with three peaks, with the middle peak being the highest, indicating a reversal of an uptrend.

Ali Martinez, a widely followed cryptocurrency analyst and trader, drew attention to key Bitcoin resistance levels between $97,000 and $99,500, where over a million addresses purchased 1.22 million BTC .

“Crossing this level could be crucial! » added Martinez.