“Crypto majors moved higher Monday while memecoins led weekend action. PLUS: China stimulus announcements fell short of expectations, but traders’ hopes remain high.”, — write: www.coindesk.com
- 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.
Edited by Parikshit Mishra.
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