Bitcoin Rises Despite Trump’s Tariff Moves; Ethereum, Dogecoin Also Gain: Analyst Advises To ‘Buy The Dip’ In August, Hold Until This Time
Leading cryptocurrencies gained alongside stock futures on Sunday despite lingering concerns over President Donald Trump’s tariff moves.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:15 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +1.52% | $114,739.26 |
| Ethereum (CRYPTO: ETH) |
+3.85% | $3,544.28 |
| Dogecoin (CRYPTO: DOGE) | +4.25% | $0.2019 |
What Happened: Bitcoin hit the upper reaches of $114,000 overnight, although trading volume dipped substantially. The recovery came after days of contraction, with the apex cryptocurrency shedding more than 4% of its value in a week.
Ethereum reentered $3,500, capping a volatile week that saw the second-largest cryptocurrency tumble 8%.
August has historically been a corrective month for the market, with both Bitcoin and Ethereum closing lower in the last four years.
The rally hit bearish traders hard, with over $100 million in shorts liquidated over the last 24 hours.
Bitcoin’s open interest fell by 0.17% in the last 24 hours. Nearly 60% of traders on Binance Futures with open Bitcoin positions were leaning bullish as of this writing, according to the …
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