Major cryptocurrencies saw gains on Sunday, with investors closely monitoring geopolitical tensions and potential U.S. political developments. Bitcoin (BTC) rose by 1.10%, nearing $84,000, while Ethereum (ETH) climbed 1.50% to $2,543.23. Other notable gainers included XRP (+0.60%), Solana (+1.50%), and Dogecoin (+1.30%). The rally came despite over $166 million in liquidations, mostly from short positions, according to Coinglass data.
The global cryptocurrency market cap reached $2.90 trillion, up 0.20% in the last 24 hours. Analyst Daan Crypto Trades noted that Bitcoin held the $83,000 retest but warned that failing to move higher could lead to a drop into the mid-$70,000s, aligning with key support levels.
Meanwhile, analyst Michaël van de Poppe predicted that Ethereum could outperform Bitcoin if it breaks above $2,575. He described the current market as 'remaining quite calm and under critical resistance.' Stock futures also inched higher overnight, with the Dow, S&P 500, and Nasdaq 100 futures showing modest gains.
Geopolitical concerns persisted as former President Donald Trump hinted at potential U.S. involvement in Middle East conflicts. Additionally, key inflation data for September is set to be released this week, which could impact market sentiment.