Gold, Silver Rebound; Bitcoin, Ethereum, Dogecoin Also Trim Losses: Why This Analyst Sees 1-2 Years Of ‘Strong Bull Market’ Ahead
Leading cryptocurrencies recovered, alongside stocks and gold, on Monday, as investors showed a higher risk appetite.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 8:19 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +1.93% | $78,710.27 |
| Ethereum (CRYPTO: ETH) |
+2.72% | $2,341.12 |
| XRP (CRYPTO: XRP) | +1.09% | $1.60 |
| Solana (CRYPTO: SOL) | +2.46% | $103.47 |
| Dogecoin (CRYPTO: DOGE) | +3.30% | $0.1075 |
Crypto Market Sees Relief Rally
Bitcoin pared some losses Monday, following a brutal sell-off that wiped all of its post-election “Trump rally.” Trading volume for the apex cryptocurrency surged 35%.
Ethereum rebounded but faced heavy resistance at the boundary of $2,400. XRP and Dogecoin also traded in the green.
Meanwhile, shares of cryptocurrency-related companies, including Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR), closed down 6.73% and 9.16%, respectively.
Over $550 million was liquidated from the market in the last 24 hours, according to Coinglass, with long liquidations accounting for the majority.
Notably, over $300 million in Bitcoin shorts risked liquidation if the apex cryptocurrency rebounds to $85,000.
The “Extreme Fear” sentiment persisted in the market, according to the Crypto Fear …
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