Bitcoin Begins the Week on a High, Jumps Above $64K
Crypto majors moved higher Monday while memecoins led weekend action. PLUS: China stimulus announcements fell short of expectations, but traders’ hopes remain high.
Bitcoin climbed above $64,000, with other major cryptocurrencies like ether and Solana's SOL also gaining, although XRP and BNB remained unchanged.
Over $100 million in short positions were liquidated due to the price jump. Memecoins like Mog and SPX6900 saw significant gains amidst discussions of a crypto "supercycle."
Broader market sentiment leaned towards buying due to positive economic indicators from both China and the U.S., with U.S. equities reaching new highs.
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Bitcoin (BTC) jumped above $64,000 in Asian hours Monday on the back of renewed hopes of a China stimulus and increased demand in certain bitcoin-based assets, leading a crypto majors move higher.
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