1 week Ago By Aniket Verma
Leading cryptocurrencies edged higher Thursday as traders returned from New Year's break with bullish optimism. Cryptocurrency Gains +/- Price (Recorded at 7:30 p.m.
ET) Bitcoin BTC/USD +2.06% $96,841.51 Ethereum ETH/USD +1.
93% $3,450.93 Dogecoin DOGE/USD +0.77% $0.
3381 What Happened : Bitcoin surged to $97,700 late afternoon as upward volatility returned to the market. The leading cryptocurrency lost steam since the $100,000 tease on Christmas, but the latest uptick has taken its weekly gains into the green Ethereum almost touched $3,500 in the morning before retreating to the $3,500 zone. The market has high expectations that the incoming Donald Trump administration will bring a golden era for cryptocurrencies.
Cryptocurrency liquidations hit $175 million in the last 24 hours, with nearly $83 million in upside bets getting wiped out. Bitcoin's Open Interest rose by 0.99%, while Ethereum witnessed higher speculative interest with a 3% jump in funds locked in unsettled derivatives.
The percentage of traders placing long positions on Bitcoin dropped from 62% to 54% in the last 24 hours, according to Long/Short Ratio. That said, markets became more greedy, according to the Crypto Fear & Greed Index, hinting at a potential surge in buying pressure. Top Gainers (24-Hours) Cryptocurrency Gains +/- Price (Recorded at 7:30 p.
m. ET) Fartcoin (FARTCOIN) +34.07% $1.
34 DeXe (DEXE) +33.02% $19.79 SPX6900 (VIRTUAL) +28.
39% $1.22 The global cryptocurrency market capitalization stood at $3.41 trillion, following a spike of 2.
52% in the last 24 hours. Stocks closed in the red in Wall Street's first trading session in 2025. The Dow Jones Industrial Average fell 151.
95 points, or 0.36%, to close at 42,392.27.
The S&P 500 slipped 0.22%, ending at 5,868.55, while the tech-focused Nasdaq Composite dipped 0.
16% to end at 19,280.79. Cryptocurrency-related stocks rose during Thursday's trading session, with both MicroStrategy Inc.
MSTR and Coinbase Global, Inc. COIN closing 3.59% higher.
See More: Best Cryptocurrency Scanners Analyst Notes: Influential cryptocurrency analyst Rekt Capital presented their outlook for 2025. "2025 will likely see the BTC bull market peak and the very beginnings of a brand new bear market," the analyst projected. "The majority of the bear market will take place, however, in 2026.
" 2025 will likely see the #BTC Bull Market peak and the very beginnings of a brand new Bear Market The majority of the Bear Market will take place however in 2026 The Bear Market would last some 365+ days and be between -65% to -80% deep $BTC #Crypto #Bitcoin Well-known on-chain analytics firm CryptoQuant stated that the bull market was far from ending, citing on-chain indicators like network fees and miner sell-offs. "On-chain data suggests the bull market is still intact, and the current phase appears to be a cooling-off period rather than a cycle peak," the firm added. "However, short-term price movements remain unpredictable.
" We Are Still in the Midst of a Bull Market "On-chain data suggests the bull market is still intact, and the current phase appears to be a cooling-off period rather than a cycle peak." – By @Avocado_onchain See the data 👇 https://t.co/HvMD44Lm7e pic.
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