From Nasdaq.:

Major cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, saw gains of up to 3.48% as cryptocurrency shorts suffered liquidation, resulting in increased prices at $43,517, $2,317, and $0.081 respectively. Over $72.04 million in crypto shorts were liquidated in the last 24 hours, with BTC and Ethereum taking the lead.

The global cryptocurrency market cap now stands at $1.63 trillion, showing a 0.54% increase in the past 24 hours. Additionally, Invesco and Galaxy Asset Management announced a reduction in the sponsor fee on their latest spot Bitcoin ETF, which has seen over $280 million in trading activity and assets under management.

The S&P 500 surged 0.76%, closing at 4,927.93, ahead of upcoming mega-cap tech earnings reports. The Federal Open Market Committee’s two-day policy meeting, set to begin on Tuesday, is expected to maintain the current interest rates. Bitcoin may be consolidating at $43K, with an upcoming run to $48-50K likely to occur, according to cryptocurrency analyst Michael Van de Poppe.

Significant Bitcoin transactions totaling over 516,000 BTC have been transacted within price ranges of $16,500, $26,770, and $42,550, indicating crucial support levels for Bitcoin. Crypto analyst Ali Martinez reported on these transactions, noting the importance of these specific price ranges for Bitcoin.

Overall, the cryptocurrency market and S&P 500 saw positive movements due to cryptocurrency shorts liquidation and anticipation of upcoming tech earnings reports and the Federal Reserve’s rate policy decision. Bitcoin and other cryptocurrencies experienced gains, with analysts predicting future price movements based on recent transactions.



Read more: Bitcoin, Ethereum, Dogecoin Rise As Crypto Shorts Face Liquidations: Analyst Predicts King Crypto Surge To $50K Pre-Halving