Leading cryptocurrencies failed to rally on Monday as geopolitical tensions over Greenland dampened investors’ risk appetite.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:20 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -0.12% | $92,635.81 |
| Ethereum (CRYPTO: ETH) |
-1.06% | $3,182.04 |
| XRP (CRYPTO: XRP) | +1.33% | $1.97 |
| Solana (CRYPTO: SOL) | -0.38% | $133.58 |
| Dogecoin (CRYPTO: DOGE) | +1.01% | $0.1283 |
Bitcoin Enters Consolidation Amid ‘Fear’ Sentiment
Bitcoin consolidated between $92,000 to $93,300 overnight, while trading volume rose nearly 10% over the last 24 hours.
Ethereum dived to an intraday low of 3,166 in the evening, after trading sideways for most of the day. XRP and Dogecoin, meanwhile, traded in the green.
The derivatives market cooled following Sunday’s crash. Over $100 million was liquidated from the market in the last 24 hours, according to Coinglass.
Bitcoin’s open interest rose 0.73% in the last 24 hours. Meanwhile, the percentage of Binance traders with long BTC positions rose to 67% from 60%, according to the Long/Short Ratio.
The “Fear” sentiment prevailed in the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
| Cryptocurrency (Market Cap>$100 M) | Gains +/- | Price (Recorded at 8:20 p.m. ET) |
| Oasis (ROSE ) | +38.96% | $0.01892 |
| River (RIVER ) | +12.60% | $30.64 |
| Midnight (NIGHT ) | +12.23% | $0.06211 |
The global cryptocurrency market capitalization stood at $3.13 trillion, following a modest drop of 0.18% in the last 24 hours.
Stock Futures Dive Over Greenland Tensions
Stock futures declined overnight on Monday. The Dow Jones Industrial Average Futures fell 455 points, or 0.92%, as of 7:38 p.m. EDT. Futures tied to the S&P 500 slipped 1%, while Nasdaq 100 Futures lost 1.17%.
Geopolitical tensions exacerbated as Trump said that he is no longer obliged “to think purely of peace” in a letter to Norway’s Prime Minister Jonas Gahr Stoere and reiterated “complete and total control” of Greenland.
Demand for safe haven rose as spot silver surged to a new all-time high of $4,680 per ounce. Spot gold traded 0.24% at $4,668 per ounce.
The New York Stock Exchange and Nasdaq will open for regular trading on Tuesday.
Key Support Levels To Watch Out For
Widely followed cryptocurrency analyst and trader Ali Martinez identified $91,824 as the support level that could dictate what’s next for Bitcoin.
As for Ethereum, Martinez flagged $3,085 as the level the cryptocurrency needs to hold for a continued bullish bias.
Michaël van de Poppe, another popular market commentator, said that Bitcoin closing above $93,000 would be a “good signal” and could result in a follow-up rally tomorrow.
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