Leading cryptocurrencies rose on Sunday evening following weeks of sideways price action, while stock futures dipped.
Cryptocurrency
Gains +/-
Price (Recorded at 8:30 p.m. ET)
Bitcoin (CRYPTO: BTC)
1.93%
$87,151.15
Ethereum (CRYPTO: ETH)
-0.22%
$1,607.66
Dogecoin (CRYPTO: DOGE)
+1.60%
$0.1591
What Happened: Bitcoin breached the $86,000 barrier to touch $87,000 for the first time in nearly three weeks. The apex cryptocurrency’s breakout spurred a similar price action for Dogecoin.
Ethereum, on the other hand, failed to generate momentum, as the second-largest cryptocurrency remained in the $1,600 range.
Bitcoin’s monthly gains reached nearly 3%, in stark contrast to ETH’s 13.26% drop.
The late evening rally pushed the 24-hour liquidations past $220 million, with over $140 million in short positions erased.
Bitcoin’s Open Interest rose marginally by 0.50% in the last 24 hours, indicating a surge in volatility and speculative demand.
The percentage of traders placing bullish long bets on Bitcoin surged to 55%, according to the Long/Short Ratio, indicating expectations of a sustained rally.
The market sentiment stayed in the “Fear” category, according …Full story available on Benzinga.com
