Bitcoin (BTC) ending its 8-day consolidation as it shot up just 2.76%

Bitcoin (BTC) ending its 8-day consolidation as it shot up just 2.76% in early Asian session on Monday. This sudden uptrend caused liquidation of nearly $100M

Early Asian session on Monday saw Bitcoin (BTC) break its 8-day consolidation as it shot up 2.76%. The sudden uptrend caused the liquidation of nearly $100M in shorts in the crypto market.

Bitcoin price saw a 2.76% rally, wiping out $82M in BTC positions.

Ethereum rose just 4.15% leading to force-closing of $40M positions.

XRP price climbed 2.63%, causing only $3M in liquidations.

Will Ethereum Price Sustain Borader Crypto Market Bullish Momentum?

Ethereum price is lagging compared to Bitcoin and other major tokens. Today, it shot up 4.15%, attempting to end its 10-day rangebound streak.

The current month’s VWAP and previous month’s VWAP are keeping the price in a lack of volatility. A breakout, in either direction, will be a volatility event.

With nearly $6B in positions in jeopardy, which way will ETH’s value go? It is still unsure if Ethereum price prediction leans bullish or bearish due to the uncertain macroeconomic and geopolitical conditions.

Bitcoin Price Ends its 8-day Consolidation Streak

After a lackluster performance for eight days, Bitcoin price ended its streak by rallying 4.53% from Sunday’s low of $83,900 to a current daily high of $87,702.

If the bulls fail to follow through during today’s New York Open, it could lead to a revisit of the 8-day consolidation range’s support at $84K or the $80K psychological level.

XRP Price Ready to Move Higher?

XRP price is grappling with the weekly moving average and is attempting to overcome it. A successful flip will allow the bulls to propel Ripple (XRP) to $2.40, the next key hurdle.

Beyond this, the token will revisit the yearly VWAP at $2.51, which is where the uptrend might pause and momentum might fade.

Crypto Market Price Predictions

Trump’s tariffs have caused a major impact on the markets and economic policies. With a 90-day pause, other countries are expected to retaliate against President Trump’s bold move.

Fed Chairman Jeorome Powell’s statements about not backing down have also caused stress on the stock and crypto markets.

With so many uncertainties, it is highly unlikely that risk-on assets will appreciate from here.

If investors start to look at Bitcoin as a hedge against inflation, then it could climb higher just like Gold has in the past few weeks.

Frequently Asked Questions (FAQs)

Can Ethereum sustain its bullish momentum?

Ethereum price shot up 4.15% today, attempting to end its 10-day rangebound streak. It remains to be seen if the broader crypto market's lack of direction will allow ETH to continue its move.

What triggered the recent price surge?

The sudden uptrend in the crypto market saw nearly $100M in shorts liquidated.

The post Bitcoin Price Surges 2.76% as BTC Shorts Liquidated by $82M appeared first on TokenPost.