Bitcoin, Dogecoin Gain, Ethereum Dips As Trump Remains Defiant On Tariff Push: Analyst Anticipates ‘Immediate Bullish Explosion’ In Crypto If This Happens
Leading cryptocurrencies eked out gains on Monday, even as President Donald Trump denied any plans of pausing tariffs amid the market rout.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +1.45% | $79,159.60 |
| Ethereum (CRYPTO: ETH) |
-1.36% | $1,550.71 |
| Dogecoin (CRYPTO: DOGE) | +1.80% | $0.1499 |
What Happened: Bitcoin rose to an intraday high of $81,000 before stabilizing in the $79,000 zone. Ethereum fluctuated between $1,500 and $1,600 a day after experiencing its worst drop since October 2023.
The capital rotation from altcoins to Bitcoin continued, as the apex cryptocurrency’s market dominance rose to 62.7%, the highest since January 2021.
Prolific Bitcoin hoarder Strategy Inc. (NASDAQ:MSTR) paused purchases last week, citing a lack of participation in its equity issuance program.
Nearly $973 million was liquidated from the market in the last 24 hours, with $632 million in longs erased.
Bitcoin’s Open Interest fell 3.63% in the last 24 hours. A drop in OI, coming alongside a rise in prices, indicated the closing of short positions.
Moreover, Bitcoin’s Long/Short ratio rose above 1, suggesting that the majority of the traders were betting on BTC’s price increase.
The market sentiment remained in “Extreme Fear” mode,” according to the Crypto Fear and Greed Index.
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