2 weeks Ago By Aniket Verma
Bitcoin rose higher Monday as pro-cryptocurrency Paul Atkins was sworn in as the new chairman of the Securities and Exchange Commission. Cryptocurrency Gains +/- Price (Recorded at 8:30 p.m.
ET) Bitcoin BTC/USD +1.18% $87,335.05 Ethereum ETH/USD -2.
56% $1,574.22 Dogecoin DOGE/USD +0.92% $0.
1595 What Happened : The apex cryptocurrency touched an intraday high of $88,821.47 after crossing $87,000 the day before, as investors cheered the breakout following weeks of sideways price action. The excitement was reflected through a 98% jump in trading volumes to $38.
64 billion. The uptick, however, failed to lift Ethereum out of the doldrums, as the second-largest cryptocurrency fell below $1,600. Bitcoin's dominance reached 63.
7%, signaling continued rotation of capital from altcoins to the leading digital asset. The sentiment may have been bolstered overnight by news of Atkins’ swearing-in as the 34th SEC Chair. Atkins had previously stated that building a regulatory framework for digital assets would be his top priority .
Total liquidations reached $270 million in the last 24 hours, with nearly equal number of bullish and bearish bets erased. Bitcoin’s Open Interest rose 3.06% in the last 24 hours, representing an increase of $3.
52 billion. That said, nearly 59% of Binance traders with an open BTC position were positioned short. The market sentiment improved from “Fear” to "Neutral," according to the Crypto Fear and Greed Index.
Top Gainers (24-Hours) Cryptocurrency Gains +/- Price (Recorded at 8:30 p.m. ET) Stacks (STX) 11.
09% $0.704 Kaspa (KAS) 7.88% $0.
08381 Decentraland (MANA) 5.52% $0.3016 The global cryptocurrency market capitalization stood at $2.
74 trillion, following an increase of 0.76% in the last 24 hours. Major stock averages ended the session in the red.
The Dow Jones Industrial Average fell 971.82 points, or 2.48%, to end at 38,170.
41. The S&P 500 lost 2.36% to close at 5,158.
20, while the tech-heavy Nasdaq Composite finished 2.55% lower at 15,870.90.
The sell-offs came after President Donald Trump intensified his attack on Fed Chair Jerome Powell , accusing him of prior political favoritism and calling for “preemptive” interest rate cuts. Meanwhile, gold surged to a record high above $3,400 per ounce, reflecting a 0.23% increase from the previous day.
See More: Best Cryptocurrency Scanners Analyst Notes: CryptoQuant’s Head of Research, Julio Moreno , identified $91,000-$92,000 as a potential Bitcoin resistance level, which corresponded to the Trader’s On-chain Realized Price. "The trader’s realized price acts as support when market conditions are bullish (green area, bull score >= 60), and as resistance when market conditions are bearish (red area, bull score = 60), and as resistance when market conditions are bearish (red area,..
. pic.twitter.
com/EpKSqeITbr Widely followed cryptocurrency analyst Rekt Capital commented on Bitcoin's breakout, stating that the "multi-month downtrend" was over. "And when a technical downtrend is broken..
. technical uptrends emerge," Rekt Capital added. #BTC The multi-month Downtrend is over And when a Technical Downtrend is broken.
.. Technical Uptrends emerge $BTC #Crypto #Bitcoin https://t.
co/GsEWQyEAc4 pic.twitter.com/VSCC0DP7EY Photo Courtesy: Bukhta Yurii on Shutterstock.
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