Leading cryptocurrencies rallied Monday as trade talks between the U.S. and Chinese officials stoked investor optimism.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:45 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +4.17% | $110,093.96 |
| Ethereum (CRYPTO: ETH) |
+8.15% | $2,704.22 |
| Dogecoin (CRYPTO: DOGE) | +5.66% | $0.1946 |
What Happened: Bitcoin spiked above $110,000 after a two-week gap, with trading volumes jumping 55% to $58.45 billion.
Ethereum recorded a steeper rise, rising more than 8% to surpass $2,700. Trading volume nearly doubled to $22.32 billion in the last 24 hours.
As of this writing, Bitcoin held a 63.6% market share, while Ethereum’s dominance increased to 9.5%.
Over $182 million was liquidated from the cryptocurrency market in the last 4 hours and nearly $438 million in the 24-hour period. About $380 million in short positions were erased
Derivatives traders gave a thumbs up to the rally. Bitcoin’s Open Interest popped 7.04% in the last 24 hours, while Ethereum’s Open Interest jumped over 12% in the last 24 hours.
The “Greed” sentiment surged from 62 to 71 in the last 24 hours, according to the Crypto Fear & Greed Index, indicating strong buying pressure.
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