Copyright Benzinga
Leading cryptocurrencies dive while stock futures rose on Sunday, in the wake of the U.S.-China trade truce. BTC, ETH End October Down Bitcoin continued to oscillate between $109,500 and $111,000, while trading volume surged 50% in the last 24 hours. Ethereum bulls faced to push the second-largest cryptocurrency above $4,000, even as volume spiked 38%. The two assets capped October on a weaker note, with Bitcoin down 3.69% and Ethereum down 7%. The apex cryptocurrency ended the month in the red for the first time since 2019. Over $170 million was liquidated from the cryptocurrency market in the last 24 hours, according to Coinglass, with long positions accounting for the majority. Bitcoin's open interest fell 0.42% in the last 24 hours. Meanwhile, over 65% of Binance traders with open BTC positions were long as of this writing. "Fear" sentiment continued to dominate the market, according to the Crypto Fear & Greed Index. Top Gainers (24 Hours) The global cryptocurrency market capitalization stood at $3.69 trillion, shrinking by 0.49% in the last 24 hours. Stocks Futures Rally Stock futures edged higher overnight Sunday. The Dow Jones Industrial Average Futures rose 135 points, or 0.28%, as of 7:48 p.m. EDT. Futures tied to the S&P 500 gained 0.34%, while Nasdaq 100 Futures added 0.42%. The market is coming off a healthy October, with the S&P 500 and the tech-focused Nasdaq Composite gaining 1.65% and 4.26%, respectively. The U.S. and China agreed to a trade deal last week following President Donald Trump’s meeting with Chinese leader Xi Jinping in South Korea. Markets and analysts, however, treated the outcome as a tactical truce rather than a strategic reset, noting frictions over technology and industrial policy. Brutal Reversal Incoming For BTC? Widely followed cryptocurrency analyst and trader Ali Martinez spotted a broadening top pattern on Bitcoin’s chart, a bearish formation indicated by diverging trend lines and increasing price volatility. "If this is indeed a broadening top, we could see a new all-time high first, followed by a brutal reversal," the analyst predicted. "Bitcoin might not be done yet!" Michaël van de Poppe said that Bitcoin needs to break above $112,000 to be in "good territory" to target a new all-time high in November. Read Next:
