Bitcoin, Ethereum, XRP, Dogecoin Rise Amid Treasury Yields Pressure: Analyst Flags BTC's Sunday Spikes That Turn Into Monday Declines
Leading cryptocurrencies gained Sunday overnight as investors weighed in on Treasury yields and the Federal Reserve's cues on interest rate policy. Cryptocurrency 24-Hour Gains +/- Price (Recorded at 9:17 p.m. EDT) Bitcoin (CRYPTO: BTC) +2.20% $86,599.44 Ethereum (CRYPTO: ETH) +1.30% $2,727.14 XRP (CRYPTO: XRP) +2.30% $1.52 Solana (CRYPTO: SOL) +0.90% $121.22 Dogecoin (CRYPTO: DOGE) +4.00% $0.09656 Crypto Market Spikes Bitcoin briefly approached $87,000 in a late-evening surge, while Ethereum stalled at $2,730. Dogecoin rose 4% over the previous day. Roughly $130 million was liquidated from the cryptocurrency market in the last 24 hours, with $105 million in bearish short positions wiped out, according to Coinglass data. Bitcoin's open interest surged 4.47% over the last 24 hours after the spot price increased. BTC's Long/Short Ratio flipped over 1, suggesting higher long exposure. "Greed" sentiment prevailed in the market, according to the Crypto Fear & Greed Index. Top Gainers (24 Hours) Cryptocurrency Gains +/- Price (Recorded at 9:30 p.m. EDT) BItway (BTW) +30.10% $1.25 Cardano (ADA) +9.30% $0.2662 Venice Token (VVV) +7.30% $30.04 The global cryptocurrency market capitalization
Leading cryptocurrencies gained Sunday overnight as investors weighed in on Treasury yields and the Federal Reserve's cues on interest rate policy. m. 09656 Crypto Market Spikes Bitcoin briefly approached $87,000 in a late-evening surge, while Ethereum stalled at $2,730. Dogecoin rose 4% over the previous day.
Roughly $130 million was liquidated from the cryptocurrency market in the last 24 hours, with $105 million in bearish short positions wiped out, according to Coinglass data. 47% over the last 24 hours after the spot price increased. BTC's Long/Short Ratio flipped over 1, suggesting higher long exposure. "Greed" sentiment prevailed in the market, according to the Crypto Fear & Greed Index.
m. 70% over the last 24 hours. Read Also: Forget XRP: These 4 Altcoins Are on Standard Chartered's Radar Stock Futures in the Green Stock futures edged higher on Sunday. m.
EDT. 35%. Treasury yields remain in the spotlight as long-dated government bond rewards climb to their multi-year highs. Investors will closely monitor the release of the Federal Reserve's September meeting minutes on Wednesday.
Odds of a rate increase at the upcoming October meeting stayed flat at 22%, according to the CME FedWatch tool. Rip Before a Dip? Ali Martinez, a widely followed cryptocurrency analyst, noted that Bitcoin's recent Sunday gains have reversed into Monday declines, while Sunday declines have preceded rebounds. "With BTC up more than 1% today, that pattern is back in focus," the analyst added.
2/6 Over the past month, Bitcoin's Sunday moves have often reversed on Monday: Sunday rallies were followed by pullbacks, while Sunday declines were followed by rebounds. With $BTC up more than 1% today, that pattern is back in focus. " The chart showed that Bitcoin long-term holders' Market Value to Realized Value ratio remained above 1 through the latest downturn, unlike prior bear markets in 2018 and 2022, where it dipped below their cost basis. For the first time in over a decade, Bitcoin's long-term holders made it through a full downturn without being pushed into losses.
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