Bitcoin Ticks Near $80,000 as Crypto Market Rally Gains Steam

Crypto markets saw significant gains on Monday as sustained demand fueled the ongoing rally. Bitcoin hovered near $80,000, and Ethereum rose to its highest level in almost seven months, trading between $2,425 and $2,530.

However, Dogecoin was an outlier, falling 0.57% in the last 24 hours. The cryptocurrency-related stocks also lifted, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing up 2.83% and 5.74%, respectively.

According to Coinglass data, over $420 million was liquidated from the cryptocurrency market in the last 24 hours, nearly evenly split between long and short positions. Bitcoin's open interest fell 1.21% over the last 24 hours.