Leading cryptocurrencies moved sideways Thursday while stocks rallied after the White House signaled that the July tariff deal deadline could be extended.
What Happened: Bitcoin oscillated between the high $106,000s and the low $108,000s as trading volume plunged 14% over the last 24 hours.
Ethereum spiked above $2,500 but reversed trajectory soon, sliding below $2,400 overnight.
Despite a slow June, the two market heavyweights have enjoyed a profitable second quarter as of this writing, with Bitcoin up 29.36% and Ethereum up 32.62%.
More than $232 million was liquidated from the cryptocurrency market in the last 24 hours, with about $145 million in bullish longs erased
Bitcoin’s open interest slid 1.33% in the last 24 hours, even as the majority of Binance traders with open BTC positions remained short.
The “Greed” sentiment prevailed, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stood at $3.27 trillion, following a modest decline of 0.67% in the last 24 hours.
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Stocks closed higher on Thursday. The Dow Jones Industrial Average climbed 404.41 points, or 0.94%, to end at 43,386.84. The S&P 500 ascended 0.8% to close the session at 6,141.02, within touching distance of its all-time closing high. The tech-focused Nasdaq Composite added 0.97% to end at 20,167.91.
White House spokesperson Karoline Leavitt told reporters that the July 9 tariff deal deadline is “not critical” and that it could be extended, but that’s a decision for President Donald Trump to make.
See More: Best Cryptocurrency Scanners
Analyst Notes: Widely followed cryptocurrency analyst and trader Ali Martinez noticed Bitcoin’s range-bound movement and projected the “next major move” after a close outside the $106,900-$108,200 zone.
According to blockchain analytics firm Santiment, the number of wallets holding at least 10 BTC jumped to its highest level since mid-March, signaling high institutional interest.
“As markets have been volatile, smart money has accumulated on most retail panic sell cycles,” Santiment added.
Photo: Antonio Gravante On Shutterstock.com
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Unlock RankingsEdge RankingsMomentumNot AvailablePrice TrendShortMediumLongOverview$BTCBitcoin$107307.170.26%$DOGEDogecoin$0.16201.18%$ETHEthereum$2433.120.65%Market News and Data brought to you by Benzinga APIs
