Leading cryptocurrencies rebounded Monday as President Donald Trump’s brief tariff reprieve fueled positive sentiment in risk-on markets.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:45 p.m. ET) |
| Bitcoin BTC/USD | +5.14% | $101,349.10 |
| Ethereum ETH/USD |
+1.46% | $2,860.84 |
| Dogecoin DOGE/USD | +15.87% | $0.2866 |
What Happened: Bitcoin surged past $100,000, a day after plunging below $92,000. The leading cryptocurrency hit an intraday high of $102,500 before paring gains overnight.
Ethereum chalked out modest gains, but the second-largest cryptocurrency was yet to reclaim the pre-slump levels. Dogecoin rallied 15%, erasing significant losses from the Sunday decline.
Cryptocurrency liquidations hit $1.56 billion over the last 24 hours, with longs accounting for over $1 billion.
If Bitcoin retraces to $95,000 again, over $1 billion in upside bets will be wiped out.
More than 55% of Bitcoin futures traders were short Bitcoin, according to the Long/Short Ratio, signaling a potential drop.
Meanwhile, Bitcoin’s Open Interest rose 2.36% in the last 24 hours, suggesting a surge in speculative trading.
Market sentiment flipped from “Fear” to “Greed”, according to the Crypto Fear & Greed Index.
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 7:45 p.m. ET) |
| MANTRA (OM) | +25.38% | $6.20 |
| Ethena (ENA) | +20.65% | $0.6834 |
| Onyxcoin (XCN) | +19.10% | $1.04 |
The global cryptocurrency market capitalization stood at $3.35 trillion, rising 4.38% in the last 24 hours.
Stock futures climbed Monday night after Trump paused planned tariffs against Canada and Mexico. The Dow Jones Industrial Average Futures rose 151 points, or 0.34%, as of 7:48 p.m. EDT.
Earlier in the day, major averages closed in the red. The Dow Jones Industrial Average lost 122.75 points, or 0.28%, to close at 44,421.91. The S&P 500 slid 0.76%, ending at 5,994.57, while the tech-heavy Nasdaq Composite dipped 1.20% to close at 19,391.96.
See More: Best Cryptocurrency Scanners
Analyst Notes: Popular cryptocurrency analyst and trader Rekt Capital noted Bitcoin’s recovery to the $101,000 level.
“Now BTC needs to daily close above it and retest it successfully to reclaim it into support,” the analyst remarked. “Until then – $101,000 needs to prove it is not a new resistance.”
Another well-known analyst, Ali Martinez, spotted a potential head-and-shoulders pattern for Ethereum.
“ETH must hold above $2,700 to keep the bullish structure intact and have a chance of reaching $7,000,” Martinez projected.
The inverse head and shoulders pattern is a bullish reversal pattern, indicating exhaustion of a prolonged downturn.
Photo by SvetlanaParnikova on Shutterstock
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