Leading cryptocurrencies jumped on Monday, driven by corporate Bitcoin purchases and a fresh bullish price prediction for 2025.
Cryptocurrency
Gains +/-
Price (Recorded at 7:45 p.m. ET)
Bitcoin (CRYPTO: BTC)
+3.92%
$102,256.53
Ethereum (CRYPTO: ETH)
+1.44%
$3,684.22
Dogecoin (CRYPTO: DOGE)
+2.56%
$0.3899
What Happened: Bitcoin soared above $100,000 for the first time since Dec. 19, ending weeks of choppy price action just below the key level.
The rally was bolstered by MicroStrategy Inc. (NASDAQ:MSTR) and Metaplanet, popularly referred to as “Asia’s MicroStrategy,” as both companies acquired more Bitcoin for their reserves.
Additionally, Bernstein painted a $200,000 target for Bitcoin by the end of 2025, contributing to the rally.
Ethereum broke out above $3,600, reaching $3,739 for the first time in over two weeks.
More than $221 million was liquidated from the cryptocurrency market in the last 24 hours, with $133 million in downside bets getting wiped out.
That said, more than $1 billion in long positions risked liquidation if Bitcoin fell to $97,720.
Bitcoin’s Open Interest soared 16.52% in …Full story available on Benzinga.com
