Bitcoin, Ethereum, Dogecoin Rally As Senate Advances Key Crypto Bill: Analyst Says BTC Could Touch A Fresh All-Time High In Coming Days
Leading cryptocurrencies rose Monday amid the advancement of a stablecoin legislation in the Senate.
| Cryptocurrency | Gains +/- | Price (Recorded at 10:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +1.41% | $106,510.09 |
| Ethereum (CRYPTO: ETH) |
+6.81% | $2,579.90 |
| Dogecoin (CRYPTO: DOGE) | +2.14% | $0.2291 |
What Happened: Bitcoin recaptured $106,000 after tapping liquidity and bouncing off the support around $102,000.
Ethereum fought off the Sunday correction, surging over 7% to reclaim the mid-$2,500s. The second-largest cryptocurrency’s market dominance once again rose above 9%.
These moves coincided with the Senate’s vote to advance the GENIUS Act, often known as the stablecoin bill, opening the door for its final passage.
Nearly $300 million was liquidated from the cryptocurrency market in the last 24 hours, with over $150 million in bullish bets getting erased.
Bitcoin’s Open Interest rose 5.92% in the last 24 hours, while funds locked in Ethereum’s derivatives spiked by over 8%.
Interestingly, over 57% of top traders on Binance with an open BTC position were short on the apex cryptocurrency.
The “Greed” sentiment prevailed in …
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