Leading cryptocurrencies rose alongside stock futures on Sunday night after the presidential election Donald Trump This indicated a possible de-escalation of trade tensions between the US and China.
| Cryptocurrency | Profit +/- | Price (recorded at 9:35 PM ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +4.91% | $115,716.67 |
| Ethereum (CRYPTO:ETH) | +11.68% | $4,169.24 |
| XRP (CRYPTO:XRP) | +8.76% | $2.53 |
| Solana (CRYPTO: SOL) | +13.90% | $198.53 |
| Dogecoin (CRYPTO: DOGE) | +13.69% | $0.2080 |
Bitcoin, Ethereum See relief rally
Bitcoin recovered sharply to claim $115,000, after the ‘Black Friday’ that wreaked havoc on the market.
Ethereum rose more than 11% that day, recouping the losses from the fateful day that took the price to $3,500. XRP And Dogecoin also saw a sharp recovery.
Cryptocurrency liquidations reached $630 million in the past 24 hours, clearing around $425 million in short positions. according to to Coinglass. As much as $19 billion was liquidated from the market on Friday.
Speculative interest was back, with open interest in BTC and ETH derivatives rising 8.12% and 13.1% respectively over the past 24 hours.
Market sentiment improved from ‘Extreme Fear’ to ‘Fear’, according to the Crypto Fear & Greed Index.
Top risers (24 hours)
| Cryptocurrency (Market cap>$100 million) | Profits +/- | Price (recorded at 9:35 PM ET) |
|---|---|---|
| Synthetic (SNX) | +95.78% | $1.82 |
| 4 (4) | +83.55% | $0.1656 |
| Dash (DASH ) | +40.43% | $53.16 |
The global cryptocurrency market cap reached $3.90 trillion, after jumping 6.3% in the past 24 hours.
Stock Futures spike after Trump’s post
Stock futures also rebounded overnight. The Dow Jones industrial average futures rose 365 points, or 0.80%, as of 8:53 PM EDT. Futures associated with the S&P500 rose by 1.22%, while Nasdaq 100 Futures added 1.72%.
Investors sensed signs of de-escalation between the US and China after Trump’s statement “Everything will be fine” through his Truth Social.
“The US wants to help China, not hurt it,” Trump said, days after threatening “massive” tariffs on the Asian country and fueling global unrest over a US-China trade war.
The three main indexes, the Dow, S&P500 and the Nasdaq Compositeall ended in the red on Friday. The S&P 500 fell 2.7%, recording its worst decline since April.
Stock prices retreated from recent highs on Wednesday. The S&P500 fell 0.28% to close at 6,735.11. The tech heavy Nasdaq Composite fell 0.08% to end at 23,024.63. The Dow Jones Industrial Average ended another day lower, losing 243.36 points, or 0.52%, to close at 46,358.42.
‘A huge outlier’
Widely followed cryptocurrency analyst and trader Michael van de Poppe viewed the recent crash as a “huge outlier and a very hard decline.”
The analyst indicated that Bitcoin needs to hold support above $110,177 to maintain the strength of the bull market.
“This is not the start of the bear market,” Van De Poppe added. “I expect markets to rise again in the next 1 to 2 days as buying pressure and confidence should slowly return.
Ted pillowsanother popular cryptocurrency market observer on X, questioned the reliability of the Sunday night rally, calling it a “relief bounce.”
“The stock market open tomorrow will set the tone for the week, and the indicators look promising so far,” Pillows said.
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