Major cryptocurrencies consolidated over the weekend after the Federal Reserve’s dovish signal spurred a rally.
| Cryptocurrency | Earnings +/- | Price (recorded 9:15 p.m. EDT) |
| Bitcoin BTC/USD | -0.16% | $64,196.74 |
| Ethereum ETH/USD |
-0.22% | $2,755.76 |
| Dogecoin DOGE/USD | -1.35% | $0.1104 |
What happened: Bitcoin It briefly touched $65,000 on Sunday before giving up on the $64,000 region where it hovered for most of the weekend. Ethereum It also retreated from $2,790 to settle around $2,750.
Total cryptocurrency liquidation reached $74.33 million in the last 24 hours, with long liquidations accounting for $48.22 million.
Bitcoin open interest was flat, up just 0.18% in the last 24 hours
The Cryptocurrency Fear & Alred Index was flashing “greed” as of this writing, reflecting a significant improvement from last week’s “Fear” sentiment.
Top earners (24 hours)
| Cryptocurrency | Earnings +/- | Price (recorded at 9:15 p.m. EDT) |
| Alliance for Artificial Super Intelligence (FET) | +8.65% | $1.36 |
| Bittensor (Tao) | +4.97% | $351.85 |
| Sei (SEI) | +4.89% | $0.3548 |
The global cryptocurrency market stands at $2.25 trillion, after a minor drop of 0.63% in the last 24 hours.
Stock futures were broadly flat on Sunday night. The Dow Jones Industrial Average futures gained 0.04% as of 9:00 PM EDT. Futures linked to S&P 500 added 0.08% while NASDAQ 100 Futures marked 0.15% higher.
The market was bullish after the Fed Stall Jerome Powell gave a clear message of cutting interest rates next month.
According to CME’s FedWatch tool, investors are pricing in a 61% chance central banks will cut rates to 5%-5.25%, down from the current 5.25%-5.5%.
See more: The best cryptocurrency scanners
Analyst Notes: A widely followed cryptocurrency trader Poseidon stated that their bias will remain bullish as long as Bitcoin remains above $60,000.
“I don’t see significant resistance until we reach $85,000,” the trader noted.
Prominent Cryptocurrency Analyst REKT Capital drew attention to Bitcoin’s historical price trajectory, based on which they projected the leading cryptocurrency to break out of the current consolidation phase by the end of September.
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