Leading cryptocurrencies moved up Monday after the Trump family stepped deeper into the space with a Bitcoin mining venture.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +1.34% | $82,667.94 |
| Ethereum (CRYPTO: ETH) |
+2.03% | $1,826.46 |
| Dogecoin (CRYPTO: DOGE) | +1.71% | $0.1669 |
What Happened: The apex cryptocurrency rose to an intraday high of $83,870.12 in the early trading hours before losing steam and falling to the $82,000 range.
Ethereum hit $1,850 before reversing course and stabilizing in the early $1,800 zone.
The spike followed the launch of American Bitcoin, a new firm led in part by President Donald Trump’s sons, Eric Trump and Donald Trump Jr., aiming to become the world’s biggest Bitcoin mining company.
Bitcoin plunged 11.82% during the quarter, marking its worst performance since 2018. Ethereum recorded a much steeper decline at 45%.
About $224 million was liquidated from the market in the last 24 hours, with upside bets accounting for more than 50%.
That said, over $350 million in short positions for the BTC/USDT perpetual futures pair on Binance would be liquidated if the digital asset climbed to $85,000.
Moreover, about 51% of Binance traders were positioned short …
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