Bitcoin, Ethereum, Dogecoin Spike As Scott Bessent’s Gears Up For Trade Talks With China: Key BTC Stakeholders ‘Moving In The Right Direction’ Towards $100,000 Target, Says Analytics Firm
Leading cryptocurrencies spiked Tuesday on news that Treasury Secretary Scott Bessent will meet Chinese officials for trade talks.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:45 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +2.82% | $97,197.36 |
| Ethereum (CRYPTO: ETH) |
+1.03% | $1,834.96 |
| Dogecoin (CRYPTO: DOGE) | +1.90% | $0.1737 |
What Happened: Following days of consolidation, Bitcoin recaptured $97,000 in the evening, reaching an intraday high of $97,625.81.
The rally also catalyzed Ethereum, pushing the second-largest cryptocurrency within touching distance of $1,850.
Over $326 million was liquidated from the cryptocurrency market in the last 24 hours, with nearly equal amounts of longs and shorts erased.
Speculative interest in Bitcoin soared, as evidenced by the 5% jump in Open Interest in the last 24 hours.
Meanwhile, the percentage of derivatives traders placing bullish long bets on Bitcoin increased to 53%, according to the Long/Short Ratio.
The market sentiment remained in the “Greed” zone, according to the Crypto Fear and Greed Index, suggesting a spike in buying pressure.
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 8:45 p.m. ET) |
| Litecoin (LTC) | +11.58% | $93.03 |
| Pudgy Penguins (PENGU) | +8.17% | $0.0117 |
| Worldcoin (WLD) | +7.69% | $0.9398 |
The global …
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