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Major cryptocurrencies held steady on Sunday while investors evaluated the ongoing deadlock between the U.S. and Iran in efforts to reach a deal.
Crypto Market Holds on
Bitcoinclimbed to $80,500 late in the evening before quickly reversing course, even as trading volume rose 10% over the past 24 hours.
Ethereumfluctuated within the $2,460–$2,525 range, while its trading volume spiked. XRPand Dogecointraded in the red.
More than $225 million in cryptocurrency positions were liquidated in the past 24 hours, with the majority of losses coming from bearish bets, accordingto Coinglass data.
Bitcoin’s open interest fell 0.70% over the last 24 hours. Sentiment among retail and whale derivatives traders on Binanceremained “Neutral.”
“Greed” sentiment prevailed in the market, accordingto the Crypto Fear & Greed Index.
The global cryptocurrency market capitalization stood at $2.71 trillion, following a modest increase of 0.02% over the last 24 hours.
Stocks Futures Dip
Stock futures inched lower overnight on Sunday. The Dow Jones Industrial Average Futures fell 132 points, or 0.25%, as of 8:52 p.m. EDT. Futures tied to the S&P 500 dipped 0.05%, while Nasdaq 100 Futures slipped 0.04%.
Geopolitical uncertainty continued to run high as Energy Secretary Chris Wright voiced doubts about the likelihood of a nuclear agreement with Iran, indicating that the U.S. may instead prioritize the degradation of Iran’s nuclear capabilities.
Is Bitcoin Headed to $90,000?
Cryptocurrency analyst Michaël van de Poppe expressed optimism that Bitcoin could reach $90,000 in the near term and that Ethereum could break above $3,000.
“Those are all relatively easy to hit in the coming period, as long as Bitcoin consolidates,” Van De Poppe added.
Ali Martinez, another well-known cryptocurrency analyst and trader, stated that Ethereum is “building momentum for its next move,” with ongoing consolidation in the $2,370-$2,530 range since Aug. 26.
“The breakout direction will be confirmed by an hourly close outside this range, but the current structure favors the bulls,” Martinez projected. “A decisive move above $2,530 could trigger a rally toward $2,700 for ETH.”
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