Leading cryptocurrencies pared losses Monday, while stocks closed higher as investors priced in a further easing of tensions between the U.S. and Iran following weekend hostilities. Bitcoin rose 1.00% to $59,872.36, and Ethereum gained 1.99% to $1,594.33, as the global cryptocurrency market capitalization stood at $2.2 trillion following a dip of 0.79% over the last 24 hours.

Crypto Market Recoups Losses

Bitcoin rose in the early trading hours but failed to cross the $61,000 barrier. Trading volume surged 82% over the last 24 hours. Ethereum rallied in the afternoon, hitting a high of $1,633 intraday before slipping back below $1,600. Cryptocurrency-related stocks also rallied, with Strategy Inc. and Bitmine Immersion Technologies Inc. closing up 12.60% and 1.77%, respectively.

Over $300 million was liquidated from the cryptocurrency market in the last 24 hours, with short traders facing the majority of the losses, according to Coinglass data. Bitcoin’s open interest increased modestly by 0.80% over the last 24 hours. Retail and whale derivatives traders on Binance lowered their long positions in the leading cryptocurrency. "Extreme Fear" sentiment prevailed in the market, according to the Crypto Fear & Greed Index.

Top Gainers (24 Hours)

Stocks Rally Ahead Of Doha Meeting

Stocks started the new trading week on a high. The Dow Jones Industrial Average rallied 306.63 points, or 0.59%, ending at 52,182.74. The S&P 500 lifted 1.18% to close at 7,440.43, while the tech-heavy Nasdaq Composite rose 2.07% to settle at 25,820.14. President Donald Trump said that a meeting with Iran is scheduled for Tuesday in Doha, Qatar. The discussions are reportedly aimed at managing the Strait of Hormuz and reducing tensions after weekend exchanges of attacks between the two sides.

Where Is Bitcoin Headed?

On-chain analytics firm CryptoQuant noted that Bitcoin’s Long Term Holder Spent Output Profit Ratio was approaching 1—a historically rare condition that has marked "generational buying opportunities." The metric is used to determine whether investors who have held their Bitcoin for more than 155 days are selling at an aggregate profit or loss. The current reading indicates long-term holders are moving coins at or near a loss.

Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, said that Bitcoin has started the week well, forecasting a "very likely" breakout above $61,000. "The bullish divergences are still applicable here, indicating that there’s the upside ready to come," Van De Poppe said.

Popular trader Crypto Banter has adopted a bullish stance on Bitcoin, citing technical indicators that suggest a strong relief rally is imminent. In a podcast on June 28, the trader stated he is fully positioned for what he terms "Scenario A," a move toward $72,000 from current levels. The strategy relies on Bitcoin holding support in the high-$58,000 to low-$60,000 range, supported by weekly bullish divergence and Fibonacci confluence.

Crypto Banter placed his invalidation point below $57,400, warning that a break beneath this level would increase the probability of a deeper decline. His first profit target for Bitcoin is $67,000, followed by a second target near $71,000. The trader expects this price action to unfold over the next one to two weeks.

Altcoin Positions

Beyond Bitcoin, the trader has opened or is building positions in several major altcoins. He highlighted specific entry zones and upside targets for each.

Watchlist

Crypto Banter also identified a watchlist of projects he is monitoring for confirmed trendline breakouts before entering. This list includes Near Protocol, Arweave, Fetch.ai, Chainlink, Dogecoin, The Graph, and Bittensor. The trader emphasized his preference for waiting for technical confirmation on these assets before deploying capital.