Bitcoin, Ethereum, and XRP Remain Stable as Dogecoin Falls: Analyst Predicts BTC Could Hit $100,000 This Month Under Certain Conditions

As the cryptocurrency market continues to evolve, Monday’s trading session highlighted a divergence between the movements of cryptocurrencies and traditional stock markets. While major cryptocurrencies showed signs of stagnation, stocks celebrated new record highs, driven by significant political and geopolitical developments.

Crypto Momentum Tapers

Bitcoin experienced a slight upward trajectory, peaking at $92,390 during early trading hours before retreating to the $91,000 range. This bounce-back led to a nearly doubled trading volume over the last 24 hours, reaching $38.78 billion. Despite high activity, Bitcoin’s apparent stagnation reflects growing caution among investors.

Ethereum maintained a tight trading band hovering around $3,000, with trading volume surging by 66% to $19.73 billion, indicating some investor confidence in this leading altcoin.

Interestingly, stocks of companies connected to the cryptocurrency world saw positive momentum. Notable firms such as Strategy Inc. (NASDAQ: MSTR) and Bitmine Immersion Technologies Inc. (NYSE: BMNR) ended the day positively, with increases of 3.11% and 3.56%, respectively, highlighting an intriguing relationship between traditional stocks and the crypto space.

However, the cryptocurrency landscape isn’t without its challenges. Over the past 24 hours, more than $230 million was liquidated from the digital market, according to Coinglass, with over 50% attributed to long liquidations. This significant liquidation indicates a possible shifting sentiment among investors.

Moreover, Bitcoin’s open interest saw a decrease of 2.82% in the last 24 hours. Notably, the percentage of Binance traders opting for long positions on Bitcoin dropped from 69% to 65%, suggesting a cautious approach as market dynamics change.

Top Gainers (24 Hours)

Despite the volatility, the global cryptocurrency market capitalization stood at $3.11 trillion, reflecting a slight increase of 0.11% over the last 24 hours. This stability may offer a glimmer of hope for investors navigating through uncertain waters.

Stocks Close At Record Highs

In contrast to the cryptocurrencies, stocks kicked off the week with enthusiasm. The Dow Jones Industrial Average climbed by 86.13 points, or 0.17%, reaching a record high of 49,590.20. The S&P 500 mirrored this trend, achieving a record close of 6,977.2 after a 0.16% increase. Similarly, the tech-heavy Nasdaq Composite also rose, closing up 0.26% at 23,733.90, underscoring a strong performance across major indices.

Precious metals like gold and silver also surged, hitting record highs as investors responded to renewed fears regarding the Federal Reserve’s independence due to a criminal investigation launched by the Department of Justice into Chair Jerome Powell.

Oil prices slightly increased as well, with the U.S. West Texas Intermediate trading up 0.42% at $59.75 per barrel. This uptick comes amid renewed geopolitical tensions between the U.S. and Iran, placing additional pressure on global energy markets.

Will Bitcoin Hit $100,000 This Month?

Despite the recent downturn, some analysts are bullish on Bitcoin’s potential. Blockchain analytics firm CryptoQuant reported that short-term holders—those who have held Bitcoin for less than 155 days—are increasingly selling at a loss, a sign of market unease. However, such behaviors may also signal areas of opportunity, as they contrast with the overall upward price trend.

“Historically, this misalignment between rising prices and capitulating retail investors often marks areas of opportunity,” CryptoQuant noted, hinting at potential market recoveries.

Michaël van de Poppe, a well-known cryptocurrency analyst, emphasized Bitcoin’s strength above the 21-day moving average near $90,000, suggesting that significant accumulation is taking place. He confidently stated, “Cracking $92,000 clearly will take us to $100,000 in a maximum of 10 days.”

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