Bitcoin Breaks $70K, Ethereum and Dogecoin Rise Amid Stock Rally Ahead Of ‘Mag 7’ Earnings: Analyst Says Current Spike Driven By ‘Binance Whales’
Leading cryptocurrencies surged Monday, with Bitcoin breaking through $70,000 after an almost five-month hiatus.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. EDT) |
| Bitcoin (CRYPTO: BTC) | +2.66% | $69,676.63 |
| Ethereum (CRYPTO: ETH) |
+1.26% | $2,535.14 |
| Dogecoin (CRYPTO: DOGE) | +14.54% | $0.1641 |
What Happened: The world’s largest cryptocurrency breached the elusive level late evening, building on the positive momentum from the weekend. In intraday trading, BTC hit a high of $70,212.27, according to data from CoinMarketCap. It is pertinent to mention that the apex coin is currently trading almost 5.3% below its all-time high of $73,750.07 which it touched eight months ago on March 14, 2024.
Ethereum also sailed to $2,585 after shifting sideways for the early part of the day.
The latest surge boosted Bitcoin’s monthly gains to more than 10%, raising expectations from a month that has previously witnessed 21% gains on average.
The rally erased over $100 million in downside bets in the last 24 hours, with total liquidations exceeding $172 million.
Bitcoin’s Open Interest blasted 7.03% in the last 24 …
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