Bitcoin, XRP Fall, Ethereum, Dogecoin Flat As Israel-Hezbollah War Threatens Iran Deal: 'Critical' Cluster Could Decide BTC's Next Move, Says Analyst
Leading cryptocurrencies plunged on Monday, while stocks extended their rally as President Donald Trump intervened to calm tensions between Israel and Hezbollah in Lebanon.
|
Cryptocurrency |
24-Hour Gains +/- |
Price (Recorded at 9:15 p.m. EDT) |
|---|---|---|
|
Bitcoin (CRYPTO: BTC) |
-3.00% |
$71,276.47
|
|
Ethereum (CRYPTO: ETH)
|
-0.40% |
$1,995.49 |
|
XRP (CRYPTO: XRP) |
-3.23% |
$1.28 |
|
Solana (CRYPTO: SOL) |
-1.81% |
$80.80 |
|
Dogecoin (CRYPTO: DOGE) |
-0.03% |
$0.1005 |
‘Extreme Fear’ Returns
Bitcoin dived below $71,000 for the first time since mid-April as trading volume jumped 150% over the last 24 hours. Ethereum continued to face stiff resistance at $2,000, as selling pressure intensified.
Cryptocurrency-related stocks also fell, with Strategy Inc. (NASDAQ:COIN) and Bitmine Immersion Technologies Inc.(NYSE:BMNR) closing down 5.85% and 2.18%, respectively.
Over $600 million was liquidated from the cryptocurrency market in the last 24 hours, with $500 million in long positions alone wiped out, according to Coinglass data.
Bitcoin's open interest rose 043% over the last 24 hours. A drop in price accompanied by an increase in open interest typically indicates a short build-up, meaning that new traders are actively entering the market by selling or shorting the asset.
Market slipped into "Extreme Fear" sentiment, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
|
Cryptocurrency (Market Cap>$100 M) |
Gains +/- |
Price (Recorded at 9:15 p.m. EDT) |
|
LAB (LAB) |
+80.44% |
$16.70 |
|
Pieverse (PIEVERSE) |
+27.51% |
$0.9005 |
|
Worldcoin (WLD) |
+22.06% |
$0.4353 |
The global cryptocurrency market capitalization stood at $2.43 trillion, following a drop of 2.37% over the last 24 hours.
Read Also: Emmanuel Macron Urges US-Iran Deal 'Quickly' As He Pushes For Strait Of Hormuz Reopening
Stocks Hit New Records
Stocks began the new trading month on a high. The Dow Jones Industrial Average rose 46.42 points, or 0.09%, to end at 51,078.88. The S&P 500 lifted 0.26% to close at 7,599.96, while the tech-heavy Nasdaq Composite added 0.42% to close at 27,086.80. All three indexes ended the day at record highs.
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