Leading cryptocurrencies rallied handsomely Monday, coinciding with fresh highs scaled by stocks.
Cryptocurrency
Gains +/-
Price (Recorded at 9:30 p.m. EDT)
Bitcoin (CRYPTO: BTC)
+5.40%
$65,895.00
Ethereum (CRYPTO: ETH)
+6.86%
$2,620.94
Dogecoin (CRYPTO: DOGE)
+6.43%
$0.1175
What Happened: Bitcoin jumped above $65,000 during morning trading hours and rose to $66,434 late evening, the highest it has been since July 30.
Ethereum also rose to a two-week high of $2,630, representing a nearly 7% jump in the last 24 hours.
Digital asset trading firm QCP Capital highlighted historical similarities with Bitcoin’s upward price action preceding the U.S. elections.
More than $245 million was liquidated from leveraged positions in the last 24 hours, with downside bets worth $209 million getting wiped out.
Bitcoin’s Open Interest-Weighted Funding Rate surged to levels not seen since late July, signaling the dominance of bullish leveraged traders.
The market sentiment dramatically shifted from “Neutral” to “Greed,” according to the Cryptocurrency Fear & Greed index, indicating a potential surge in buying pressure.
Top Gainers (24-Hours)
Cryptocurrency
Gains +/-
Price (Recorded at 9:30 p.m. EDT)
BOOK OF MEME (BOME)
+37.17%
$0.01069
Cat in a dogs world (MEW)
+28.53%
$0.008632
Bitcoin Cash …
Full story available on Benzinga.com