Cryptos Hold Ground as Market Digests Last Week's Gains

Cryptocurrencies are showing resilience on Monday as they digest last week's gains. The market is characterized by low volatility, and Bitcoin is trading marginally higher.

According to Coinglass data, a significant 90,337 traders were liquidated in the past 24 hours for $420.39 million. This indicates that some investors are taking profits after last week's gains.

Despite this, there are signs of ongoing interest in Bitcoin and other assets. SoSoValue data shows net inflows of $307.5 million from spot Bitcoin ETFs on Friday, while spot Ethereum ETFs saw net inflows of $184.9 million.

Analysts are weighing in with their views on the market's prospects. Michael van de Poppe believes 'hyped' bullish sentiment could trigger a brief market sweep, flushing out leveraged long positions. Ali Martinez notes that Bitcoin's reclaim of the 1,130-day SMA above $74,000 is a bullish signal, historically marking the end of bear markets.