Main cryptocurrencies rose barely on Sunday after President Donald Trump delayed tariffs on European Union imports by over a month.
| Cryptocurrency | Positive factors +/- | Worth (Recorded at 8:30 p.m. ET) |
| Bitcoin BTC/USD | +1.18% | $109,221.97 |
| Ethereum ETH/USD |
+0.95% | $2,555.88 |
| Dogecoin DOGE/USD | -0.05% | $0.2253 |
What Occurred: Bitcoin jumped to an intraday excessive of $109,775.28 in a single day, lifting Ethereum and the broader market by a number of notches. The second-largest cryptocurrency sailed previous $2,550.
The rise comes after Trump agreed to delay the 50% tariffs on European Union imports till July 9 from June 1, following a name with European Fee President Ursula von der Leyen.
Shares and cryptocurrencies were pulled lower Friday after Trump threatened to impose 50% levies on one of its largest buying and selling companions. Bitcoin’s purple-scorching rally was halted, and it fell as little as $107,500.
Over $200 million was liquidated from the cryptocurrency market within the final 24 hours, with longs accounting for $114 million.
Ethereum’s dominance elevated to 1.68%, whereas altcoins’ share of the market dropped beneath 28%.
Bitcoin’s Open Interest rose 1.96% within the final 24 hours to $76 billion, following a decline from the highs of $80 billion on tariff developments.
Over 58% of Binance merchants with open BTC positions have been quick on the main cryptocurrency, suggesting additional downsides may very well be on the best way.
The cryptocurrency market retained the “Greed” sentiment, as indicated by the Crypto Worry and Greed Index.
High Gainers (24-Hours)
| Cryptocurrency | Positive factors +/- | Worth (Recorded at 8:30 p.m. ET) |
| Hyperliquid (HYPE) | +12.36% | $39.09 |
| Zcash (ZEC) | +11.46% | $54.73 |
| EOS (EOS) | +4.66% | $0.7677 |
Disclosure: 82% of retail CFD accounts lose cash
The international cryptocurrency market capitalization stood at $3.42 trillion, following a modest enhance of 0.52% within the final 24 hours.
Inventory futures climbed as effectively. The Dow Jones Industrial Common Futures rose 304 factors, or 0.73%, as of 8:40 p.m. EDT. Futures tied to the S&P 500 gained 0.86%, whereas Nasdaq 100 Futures added 1.03%.
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Analyst Notes: Cryptocurrency analyst Cas Abbé famous a bullish pennant formation for Bitcoin. A bullish pennant is a continuation chart sample, indicating resumption of an uptrend after a pause or consolidation interval.
“It bounced again properly from the assist degree, which is an effective signal,” Abbé stated. “I believe the following week can be good for BTC. I can odor a brand new ATH once more.”
Abbé additionally commented on ETH’s prospects, stating that the asset was making an attempt to reclaim the Gaussian Channel.
The Gaussian Channel makes use of statistical rules to find out the higher and decrease limits of an asset’s worth actions.
“Since 2020, ETH has solely reclaimed this channel twice. And each instances, ETH pumped arduous,” the analyst stated. “If ETH reclaims this once more, I’m sure of $4,000 ETH by Q3 2025.”
Picture Courtesy: alfernec on Shutterstock.com
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