Bitcoin, Ethereum, XRP, Dogecoin Spike, But Analyst Says Crypto Downtrend Intact: BTC Could Test These Levels Before It Resumes The Upward Journey
Leading cryptocurrencies rallied alongside stocks on Monday, as traders amped up bets on a Federal Reserve interest rate cut in December.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:25 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +1.54% | $87,998.49 |
| Ethereum (CRYPTO: ETH) |
+5.60% | $2,941.69 |
| XRP (CRYPTO: XRP) | +10.28% | $2.25 |
| Solana (CRYPTO: SOL) | +5.94% | $138.51 |
| Dogecoin (CRYPTO: DOGE) | +4.98% | $0.1519 |
Cryptos Recuperate
Bitcoin built up momentum, breaking past $89,000, before reverting to the early $88,000s overnight. Trading volume spiked 19% over the last 24 hours.
Ethereum also rallied sharply, but met stiff resistance around the $3,000 mark. The coin’s trading volume shot up nearly 50% over the last 24 hours.
Meanwhile, shares of Bitcoin holding company Strategy Inc. (NASDAQ:MSTR) lifted over 5% in the regular trading session.
Benzinga Edge delivers real-time stock alerts, trade ideas, and professional investing tools to help you navigate the market. Find out more about MSTR here.
Cryptocurrency liquidations hit $365 million in the last 24 hours, according to Coinglass, with short position traders losing roughly $255 million.
Bitcoin’s open interest rose modestly by 0.55% in the last 24 hours. Notably, nearly 70% of Binance traders with open BTC positions were positioned long, according to the Long/Short Ratio.
The “Extreme …
About The Author
