Leading cryptocurrencies jumped to multi-month highs on Monday amid rampant optimism and growing “fear of missing out.”
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:30 p.m. EDT) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +5.42% | $85,789.27 |
| Ethereum (CRYPTO: ETH) | +2.88% | $2,752 |
| XRP (CRYPTO: XRP) | +6.55% | $1.51 |
| Solana (CRYPTO: SOL) | +5.18% | $117.96 |
| Dogecoin (CRYPTO: DOGE) | +12.25% | $0.09956 |
Crypto Market Erupts
Bitcoin stormed past $87,000 for the first time since January, while trading volume jumped nearly 150% over the last 24 hours.
Ethereum also rallied to a nearly 10-month high of $2,800, while XRP and Dogecoin recorded sharp upticks.
Cryptocurrency-related stocks advanced, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing up 9.47% and 8.70%, respectively.
Over $1 billion was liquidated from the cryptocurrency market in the last 24 hours, with $840 million in bearish short bets wiped out, according to Coinglass data.
Bitcoin’s open interest soared 8.44% over the last 24 hours. A jump in open interest alongside a jump in price typically indicates strong bullish momentum and fresh money entering the market.
"Extreme Greed" sentiment swept the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
| Cryptocurrency (Market Cap>$100 M) | Gains +/- | Price (Recorded at 9:30 p.m. EDT) |
| AIOZ Network (AIOZ) | +40.05% | $0.1289 |
| Four (FORM) | +34.29% | $0.3533 |
| Pepe (PEPE) | +24.66% | $0.000005052 |
The global cryptocurrency market capitalization spiked to $2.91 trillion, representing a 4.28% increase over the last 24 hours.
Stocks Rally, Nasdaq Closes at Record
The stock market kicked off the new trading week strongly. The Dow Jones Industrial Average rallied 366.19 points, or 0.71%, to settle at 52,048.83. The S&P 500 rose 1.49% to end at 7,764.70, while the tech-focused Nasdaq Composite surged 2.26% to close at a record high of 27,122.09.
Iran relayed conditions to the U.S. for re-engaging in negotiations aimed at ending the war. Meanwhile, President Donald Trump told Fox News he would "probably" be open to meeting with Iranian President Masoud Pezeshkian during the United Nations General Assembly this week
End of Bear Market?
Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, stated that Bitcoin’s surge won’t stop anytime soon, targeting $90,000-$91,000 next, with potential extension to $98,000-$100,000.
“I don’t think I’d be betting against this trend,” Van De Poppe added. “The bear market is over.”
At the same time, Bitcoin’s bullish commentary surged to its highest level since 2024, according to on-chain analytics firm Santiment.
“Crypto often punishes crowded expectations,” Santiment warned. “Extreme fear can appear near exhaustion lows, while synchronized ‘higher from here’ confidence can develop near local tops.”
Photo: KateStock / Shutterstock
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