Bitcoin, Ethereum, Dogecoin rise as ‘greed’ sentiment takes over: Breaking through this resistance level could be ‘key’ for BTC, top analyst says – Grayscale Bitcoin Mini Trust (BTC) Common units with partial undivided beneficial interests (ARCA:BTC)

Major cryptocurrencies rose on Sunday as investors eased concerns that monetary easing would be undermined by a blowout jobs report.

what happened: Bitcoin An overnight surge to $95,740 capped a volatile day for the world’s leading cryptocurrency. The asset spent much of the weekend swinging between $94,000 and $95,000 before suddenly rising higher.

Price correction action has begun since Bitcoin rose to $102,000 last week.

Ethereum Following a similar trajectory, the price plummeted from a high of $3,700 to $3,000 this week.

About $149.81 million was liquidated in the past 24 hours, including $100 million in upside bets.

A further drop to $90,000 would liquidate $417 million in long positions.

However, the market appears to be holding out hope for a Bitcoin comeback, with 61% of Binance traders betting on Bitcoin gains based on the long/short ratio.

According to the Crypto Fear & Greed Index, market sentiment rose from “neutral” to “greedy,” indicating a surge in risk appetite.

Biggest riser (24 hours)

The global cryptocurrency market capitalization is $3.3 trillion, down 0.50% in the past 24 hours.

Stock futures were little changed overnight. this Dow Jones Industrial Average Futures It was up 22 points, or 0.05%, as of 7:43 p.m. ET. Futures and S&P 500 Index fell 0.09%, while Nasdaq 100 Futures down 0.03%.

The December employment report released last week exceeded expectations, with non-farm payrolls recording the strongest growth since March. However, this raised concerns about the pace of rate cuts, triggering the sell-off.

This week, investors will focus on key inflation data, such as the December Consumer Price Index and Producer Price Index.

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Analyst Note: legendary trader Peter Brandt Point out Bitcoin’s head and shoulders chart pattern, suggesting it could complete, fail as a bear trap, or evolve into a broader pattern.

The bearish pattern shows a baseline with three peaks, with the middle peak being the highest, indicating a reversal in the uptrend.

Ali Martinez, A widely followed cryptocurrency analyst and trader drew attention to Bitcoin’s key resistance between $97,000 and $99,500, with more than 1 million addresses buying 1.22 million BTC.

“Breaking through this layer may be the key!” Martinez added.