The two largest coins traded in the red Sunday evening as the global cryptocurrency market cap declined 1.05% to $1.08 trillion at press time.
Price Performance Of Major Coins
Coin
24-hour
7-day
Price
Bitcoin (CRYPTO: BTC)
-1.6%
3.3%
$23,314.77
Ethereum (CRYPTO: ETH)
-1.2%
5.1%
$1,678.08
Dogecoin (CRYPTO: DOGE)
-1.9%
1.45%
$0.07
Top 24-Hour Gainers (Data via CoinMarketCap)
Cryptocurrency
24-Hour % Change (+/-)
Price
Filecoin (ROSE)
+25.1%
$9.94
Internet Computer (ICP)
+9.5%
$9.03
Arweave (AR)
+6.2%
$15.58
See Also: Best USDC Interest Rates
Why It Matters: Cryptocurrencies, which were buoyant over the weekend, appear to be losing steam heading into a fresh trading week.
Bitcoin reached a high of $24,572.58 over the weekend and has since contracted 5.1% from those levels.
Cryptocurrencies continue to be aligned with stocks. The S&P and Nasdaq futures were down 0.4% each at press time. Heading into a fresh trading week, investors will keep an eye on a flurry of earnings data and the nonfarm payrolls report from the Bureau of Labor Statistics.
Cryptocurrency investors need to keep an eye on the S&P 500, where the area below 4,200 will be “critical,” according to the trader Justin Bennett.
Bennett pointed to the correlation between Bitcoin and S&P500 and …
Full story available on Benzinga.com