The broader crypto market rose about 4% to just below $3 trillion, with XRP, SOL and ETH outperforming Bitcoin.
- Over $700 million in crypto positions were liquidated during the rebound, with short positions accounting for the bulk of the forced selling.
- HYPE jumped about 10% to another record high, while ZEC topped $1,500 and remained in the ‘bullish’ sentiment zone on Stocktwits.
- Oil prices fell for a fourth consecutive session, dipping below the $100 mark.
Bitcoin (BTC) neared $85,000 on Monday, with crypto-linked stocks including Strategy (MSTR) and Strive (ASST) rallying in early morning trade, while oil prices fell for a fourth consecutive day.
Bitcoin’s price climbed about 5.5% over the past 24 hours to around $85,900, extending its rebound from last week's lows and helping lift crypto-linked equities higher. Bitcoin treasury MSTR’s stock jumped as much as 7% in pre-market trade, on track to hit an over 3-month high. Its smaller peer, ASST stock was climbing to levels last seen in November, up 6.5% in early morning trade.
BTC and MSTR were the top trending tickers on Stocktwits at the time of writing. Retail sentiment around both assets improved to ‘neutral’ from ‘bearish’ over the past day, accompanied by chatter at ‘normal’ levels.
Coinbase (COIN) and Circle Internet Group (CRCL) shares also climbed about 4% each, adding to a broader move higher across crypto-related stocks.
XRP, SOL And HYPE Outperform Bitcoin
Altcoins added to the rally, with Ripple’s XRP (XRP), Solana (SOL) and Ethereum (ETH) outperforming Bitcoin. Solana’s price rose around 7.2% in the last 24 hours to $116, while XRP’s price rose around 6.8% $1.48. Ethereum’s price gained 6% to around $2,736, hitting highs last seen in February but still 44% below its record high of over $4,900 seen in August last year.
Other major gaineres included NEAR Protocol (NEAR) and Sui (SUI), while Hyperliquid (HYPE) rallied to hit fresh record highs. NEAR and SUI each gained over 20% in the last 24 hours. HYPE’s price rose around 4.6% in the last 24 hours to over $95.
The broader crypto market rose about 4% to just below $3 trillion. It saw over $720 million liquidated in the last 24 hours, according to CoinGlass data, with over $620 million coming from short positions that were wiped out.
Oil Slide Adds To Risk-On Backdrop
Crude oil had surged above $100 last week, with West-Texas Intermediate crude crossing $106 and Brent crude nearly touching $110 for the first time since May, amid concerns over Middle East supply disruptions.
Brent crude prices were falling for fourth straight session in early morning trade on Monday – the longest losing run in three months. The United States Oil Fund (USO) fell as much as 2.7% in pre-market trade, with retail sentiment trending falling to ‘neutral’ from ‘bullish’ territory over the past day.
President Donald Trump told Fox News he would "probably" be open to meeting Iranian President Masoud Pezeshkian at the U.N. General Assembly this week.
Read also: Oil, Treasury Yields, Bitcoin: 3 Market Signals To Watch This Week
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
