Major cryptocurrencies rallied sharply on Monday, matching new highs for stocks.
| cryptocurrency | Gain +/- | Prices (recorded at 9:30 p.m. EDT) |
| Bitcoin BTC/USD | +5.40% | $65,895.00 |
| Ethereum ETH/USD |
+6.86% | $2,620.94 |
| dogecoin doge/usd | +6.43% | $0.1175 |
what happened: Bitcoin It rose above $65,000 during morning trading and rose to $66,434 in the evening, its highest level since July 30th.
Ethereum The stock also rose to a two-week high of $2,630, up nearly 7% in the past 24 hours.
Digital asset trading company QCP Capital He highlighted historical similarities with the rise in Bitcoin's price before the US election.
More than $245 million was liquidated from leveraged positions in the past 24 hours, and $209 million worth of downside bets were wiped out.
Bitcoin’s open interest-weighted funding rate rose to its highest level since late July, demonstrating the dominance of bullish leveraged traders.
According to the Crypto Fear and Greed Index, market sentiment has changed dramatically from 'neutral' to 'greed', indicating that buying pressure may increase.
Top Gainers (24 hours)
| cryptocurrency | Gain +/- | Prices (recorded at 9:30 p.m. EDT) |
| meme book (Bome) | +37.17% | $0.01069 |
| cat in dog world (Mew) | +28.53% | $0.008632 |
| bitcoin cash (BCH) | +18.28% | $380.39 |
Global cryptocurrencies rose 4.75% in the past 24 hours to $2.29 trillion.
The stock market recorded a roaring start to the new trading week. of Dow Jones Industrial Average It rose 201.36 points (0.47%) to close at a record high of 43,065.22. of S&P500 It rose 0.77% to end at 5,859.85, also a record high. High-tech oriented Nasdaq Composite It rose 0.87% to 18,502.69.
The rally was fueled by AI giants Nvidia's NVDA The company's stock rose 2.4% in regular trading Monday, hitting a record closing price.
Earnings season began as follows JPMorgan Chase & Co.. J.P.M. It reported its third quarter numbers last week. This week, investors were keeping a close eye on upcoming big earnings reports from big banks and technology companies. Goldman Sachs Group, Inc. G.S. and Netflix Inc. NFLX.
See more: best cryptocurrency scanner
Analyst notes: cryptocurrency analyst Ali Martinez His predictions from last month and how things are progressing as expected caught our attention.
On September 23, analysts expected Bitcoin to fall to $60,000, then rebound to $66,000, return to $57,000, and eventually breakout toward $78,000.
Martinez said King Crypto is on track to earn $78,000 if the first three prerequisites are met.
Another widely followed technical analyst, Recto Capital He said that for Bitcoin to reach the $65,000 to $71,350 area, it would require one daily close above $65,000 and a subsequent retest.
“All of these moves ended with highs and lows, but there is a good chance that this series of highs and lows will end the day above $65,000,” the analyst said.
Photo by Igor Faun from Shutterstock
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