Leading cryptocurrencies edged higher on Sunday as investors weighed President Donald Trump’s remarks about a potential Iran peace agreement.
Crypto Market Consolidates
Bitcoin wobbled within a range of $62,890 to $63,700, with trading volume surging 19% over the 24-hour period. Ethereum also remained stuck within $1,800, while XRP and Dogecoin traded in the green.
Nearly $150 million was liquidated from the cryptocurrency market in the last 24 hours, predominantly in bearish short positions, according to Coinglass data.
Bitcoin’s open interest rose 0.31% over the last 24 hours. Retail and whale derivatives traders remained net long on $BTC, but trimmed their exposure from the day before.
“Fear” sentiment prevailed in the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stood at $2.17 trillion, following an increase of 0.82% over the last 24 hours.
Stock Futures Lift on Peace Hopes
Stock futures climbed overnight on Sunday. The Dow Jones Industrial Average Futures rose 205 points, or 0.39%, as of 8:41 p.m. EDT. Futures tied to the S&P 500 spiked0.42%, while Nasdaq 100 Futures rallied 0.65%.
The upsurge came after Trump after being “asked” by Tehran and other Middle East nations to “hold off” to allow a deal to be reached.
$BTC’s ‘Strong and Vital Move’ Incoming?
Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, noted record-low Bitcoin sentiment and high net negative positioning in the current cycle
He predicted that a sustained breakout above the $67,000-$68,000 resistance would trigger a “strong and vital move” due to liquidations, “accelerating” the move upward.
On-chain analytics firm Santiment also spotlighted Bitcoin’s lowest positive-to-negative commentary on major social platforms, with just 0.58 bullish comments for every 1 bearish comment.
“This panic reading is larger than the peak war fears earlier this year, as well as the other aforementioned events from crypto’s past,” Santiment added.
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