Top cryptocurrencies rise amid US regulatory policy

On Monday, June 9, major cryptocurrencies rose significantly amid the resumption of negotiations between the United States and China. And as of Tuesday morning, June 10, Bitcoin BTC $109,560.98 Bitcoin 1.79% Market capitalization $2.18 trillion VOL. 24 hours $2.1 billion broke the psychological mark of $ 110,000 after a two-week break, with trading volumes on the market’s flagship rising 55% to $ 58.45 billion. Ethereum ETH $2,756.89 Bridged Ether (StarkGate) 8.74% Market capitalization $0.16 billion VOL. 24 hours $2.44 billion rose by more than 8% to reach $ 2,704, while Dogecoin DOGE $0.19 Binance-Peg Dogecoin 5.67% Market capitalization $0.5 billion VOL. 24 hours $0.19 billion strengthened by 5.66% to trade at $ 0.1946.

Ethereum showed particularly strong growth: daily trading volume doubled to $ 22.32 billion. Bitcoin’s market share is currently 63.6%, and Ethereum’s share is 9.5%. The total capitalization of the cryptocurrency market increased by 4.10% to $ 3.44 trillion over the day.

Investors actively participated in trading: over the past 4 hours, they liquidated positions worth more than $ 182 million, and over the day — almost $ 438 million. Short positions amounted to about $ 380 million. At the same time, the Fear and Greed index rose from 62 to 71 over the day, indicating increased buyer pressure.

Experts from the analytical company Santiment warned that the current surge in sentiment among retail investors could turn into the opposite dynamic if the historical scenario repeats itself. Famous crypto analyst Michael van de Poppe called the $ 2,700−2,750 zone a «strong» resistance level for Ethereum and suggested that if this line is broken, the market could see a new powerful upward movement.

Meanwhile, US stock indices showed little change: The S&P 500 rose by 0.09%, the Nasdaq Composite by 0.31%, and the Dow Jones remained almost unchanged. Negotiations between the US and China, which continue in London after a phone call between Donald Trump and Xi Jinping, could potentially affect not only trade relations but also commodity markets.