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Now, let’s talk about the latest in cryptocurrency. Recently, Bitcoin, Ethereum, and Dogecoin took a step back after making gains on Sunday. Analysts noted that Ethereum’s dips below $2,300 were seen as “prime buying zones.”

On Monday, leading cryptocurrencies reversed their gains. Here’s a quick look at the numbers:

Cryptocurrency Gains +/- Price (as of 9:20 PM EDT):
Bitcoin BTC/USD: -1.55% at $62,826.40
Ethereum ETH/USD: -0.05% at $2,618.46
Dogecoin DOGE/USD: -0.39% at $0.1072

So, what happened? Bitcoin gradually fell below $63,000 after reaching $64,600 on Sunday, thanks to positive comments from Democratic presidential candidate Kamala Harris. Ethereum also declined after market close, settling in the low $2,600 range.

Interestingly, there’s a notable difference between the weekly performance of these top currencies and their year-to-date returns. Ethereum, which has lagged behind Bitcoin this year, actually outperformed Bitcoin over the past week. This shift might indicate a rotation of capital from Bitcoin to other cryptocurrencies, especially after the Federal Reserve’s significant 50 basis point rate cut.

Over the last 24 hours, total cryptocurrency liquidations exceeded $124 million, with bearish bets accounting for $67 million. Despite this, Bitcoin's funding rate on major exchanges like Binance remained positive, showing a dominance of bullish traders. The open interest in Bitcoin futures fell slightly by 0.25% in the past 24 hours.

The market sentiment currently stands at “Neutral,” according to the well-known Cryptocurrency Fear & Greed Index. This suggests a balance between market forces.

Top Gainers (24-Hours):
Celestia (TIA): +21.46% at $6.56
Arweave (AR): +16.16% at $22.95
NEAR Protocol (NEAR): +14.02% at $5.16

The global cryptocurrency market cap is now at $2.22 trillion, reflecting a slight contraction of 0.05% in the last 24 hours.

Meanwhile, stocks are hitting new highs. The Dow Jones Industrial Average rose by 61.29 points, or 0.15%, closing at 42,124.65. The S&P 500 climbed 0.28% to finish at 5,718.57, both reaching record levels. The tech-focused Nasdaq Composite gained 0.14%, closing at 17,974.27.

Investors are also considering weak manufacturing sector data, which showed output levels at their lowest since December 2023. Many are looking ahead to more macroeconomic data, including weekly jobless claims, set to be released Thursday. This will help assess the Federal Reserve's goal of a soft landing for the economy.

Analyst Notes: Cryptocurrency analyst Rekt Capital pointed out that Bitcoin has historically broken out of its reaccumulation range about 154 to 161 days after halving. “It’s now 157 days post-halving. History suggests it’s ‘Breakout Time’ for Bitcoin,” he stated.

Another well-known analyst, going by the name Wolf, mentioned that Ethereum’s dips below $2,300 were “prime buying zones.” He expects a strong upside in the coming days. Here’s a look at how both cryptocurrencies have performed since the start of the year and over the last seven days:

Cryptocurrency 7-Day Gains +/- YTD Gains +/-
Bitcoin: +8.54% / +49.29%
Ethereum: +14.57% / +14.82%

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