Global #crypto markets

Bitcoin has reached new heights, hitting an all-time high just above $75,560, marking its largest daily performance since March 20. The digital asset’s explosive rally is being attributed to growing market expectations of a Republican victory in the 2024 U.S. presidential election, particularly the likelihood of a second term for former President Donald Trump.

Bitcoin (BTC) saw a decline to $62,700 after hitting a near one-month high of $64,500, coinciding with China’s latest economic stimulus measures. The People's Bank of China (PBoC) cut the reserve requirement ratio for banks by 50 basis points and reduced the seven-day reverse repo rate to 1.5%.

Analysts at Bernstein have painted a positive picture for decentralized finance (DeFi) despite widespread concerns that potential Federal Reserve interest rate cuts could negatively impact Bitcoin and Ethereum.

The cryptocurrency market has recently experienced significant turbulence, leading to a wave of liquidations across major assets. Over the past few days, $193 million worth of crypto long positions have been liquidated as Bitcoin and other leading cryptocurrencies face extreme volatility.

Crypto markets have maintained relative stability over the weekend, with the total market capitalization hovering just above $2.5 trillion. The recent financial landscape has been influenced by various factors, including inflation data, political statements, and upcoming economic reports.

As Dogecoin struggles around its 21 and 50-day moving averages, investors are turning their attention to a new alternative called Dogeverse (DV) in hopes of significant returns.