The crypto price chart reflected small profits next to most altcoins on Monday. Bitcoin on Monday reflected a price hike of under one percent. At the time of writing, the most expensive crypto asset was trading at $70,000 — however, the price did not show signs of stability. BTC was still fluctuating around the $69,800 price point at press time.
In conversation with Coin Headlines, market analysts said that for BTC, while the price action remains range-bound, underlying demand looks strong. They were pointing to Strategy’s signal to continue acquiring BTC, extending its buying streak to 12 straight weeks.
“Bitcoin saw a relief rally over the weekend, briefly reaching $70,800 after softer-than-expected CPI data helped stabilise sentiment. Additionally, the weekly net positive inflows into BTC ETFs also helped in stabilising the price. With Bitcoin consolidating near $68,000, a decisive move above $72,000 could trigger a short squeeze and accelerate momentum toward $80,000. On the downside, $66,500 continues to act as a solid support, keeping the broader structure positive,” said Akshat Siddhant, Lead quant analyst, Mudrex.
Ether joined BTC in reeling-in a small profit of under one percent. The second most expensive asset was trading at $2,000 at the time of writing.
BNB, Tron, Bitcoin Cash, Cardano, Leo, and Canton registered small gains similar to BTC and ETH on Monday. Uniswap, Aave, Pepe, Aster, OKB, and Bitget Token also roped in miniscule price hikes.
“Memecoin momentum is back, led by Pepe and Dogecoin. PEPE surged nearly 19 percent with over $1.2 billion in daily volume, reflecting strong whale and exchange support. DOGE climbed almost 12 percent, signaling renewed retail risk appetite as capital rotates into speculative assets,” Sathvik Vishwanath, Co-Founder and CEO, Unocoin told Coin Headlines.
The overall crypto market cap moved up by 0.21 percent over the last day to claim the valuation of $2.38 trillion, CoinMarketCap showed.
Over 97,469 traders were liquidated in the last 24 hours with the total liquidations hitting $239 million, data by CoinGlass showed.
Analysts have said that overall, markets show a split between retail-driven hype and growing demand for mid-cap infrastructure and utility-focused tokens.