Major cryptocurrencies rose slightly on Monday, coinciding with a sharp rise in technology stocks.
| Cryptocurrency | Earnings +/- | Price (recorded at 8:30 p.m. ET) |
| Bitcoin BTC/USD | +0.60% | $91,007.28 |
| Ethereum ETH/USD |
+1.49% | $3,158.99 |
| Dogecoin DOGE/USD | +2.23% | $0.3725 |
What happened: Bitcoin exhibited a choppy move, oscillating between $92,000 and $89,000. The leading cryptocurrency has lost momentum since surpassing $93,000 last week.
Ethereum moved slightly north, reaching an intraday high of $3,225 before quickly retreating to $3,150.
In the last 24 hours, 114,745 traders were liquidated, totaling $329.61 million. More than $200 million in bullish bets were wiped out.
Open interest (OI) on Bitcoin futures increased by 2% over the past 24 hours, suggesting sustained speculative interest.
The number of traders holding long Bitcoin positions increased significantly over the previous 24 hours, signaling expectations for a resumption of the rally.
“Extreme Greed” sentiment rose to 90, according to the Cryptocurrency Fear and Greed Index.
Top winners (24 hours)
| Cryptocurrency | Earnings +/- | Price (recorded at 8:30 p.m. ET) |
| Hedera (HBR) | +40.64% | $0.1395 |
| Tezos (XTZ) | +40.27% | $1.13 |
| Akash Network (AKT) | +38.64% | $4.55 |
The global cryptocurrency market capitalization stood at $3.08 trillion, up 1.84% in the last 24 hours.
THE Nasdaq Compositethe barometer of technological stocks, jumped 111.68 points, or 0.60%, to finish at 18,791.81. THE S&P500 gained 0.39% to close at 5,893.62, while the Dow Jones Industrial Average closed down 0.13% at 43,389.60.
The tech rally was boosted by a 5.62% rise in shares of the electric vehicle giant Tesla Inc. TSLA on reports suggesting that the next regulatory framework under Trump could relax mandates for autonomous vehicles.
Additionally, investors were prepared for the AI giant. Nvidia Corp. NVDA income report Wednesday.
See more: Best Cryptocurrency Scanners
Analyst Ratings: Popular Cryptocurrency Analyst Ali Martinez used historical trajectories to project Bitcoin’s next moves before a significant correction.
“During the 2017 bull market, Bitcoin surged 156% beyond its previous all-time high before the first major correction of -39%. In 2020, BTC rose 121% before a correction of -32 %,” Martinez said.
If history repeats itself, Bitcoin could reach $138,000 before its “first major pullback,” the analyst added.
Popular On-Chain Analysis Company CryptoQuant said Bitcoin has “room” for further growth based on the SOPR indicator reading from short-term holders.
The SOPR, combined with the 30-day moving average (30d MA), revealed that short-term holders are making moderate profits, with no signs of excessive euphoria.
“Currently, the indicator remains in the middle region, far from the Extreme Greed range, suggesting that the asset still has room to continue rising before reaching a possible market top,” CryptoQuant noted.
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