Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Bitcoin briefly approached $70,000 over the weekend but failed to maintain the momentum, dropping by 2.2% to just above $67,000.
This decline was mirrored by other major cryptocurrencies like ETH, TON, and ADA, with over $165 million in long positions liquidated, indicating significant leverage use in the market. Meanwhile, market analysts predict a rangebound week for cryptocurrencies like BTC and ETH, with key resistance levels not yet surpassed.weekend push to nearly $70,000 failed to hold as the asset dipped 2.2% to just over $67,000 early Tuesday, with a drop across all major tokens.Over $165 million in longs -- or bets on higher prices -- were liquidated across crypto futures tracking major tokens in a sign of a leverage flush.
The Simon's Cat memecoin is officially linked to the mainstream Simon's Cat brand and backed by their IP. Banijay, the company holding the Simon's Cat IP, earned a revenue of $5.8 billion last year. CAT launched in August in partnership with Floki and trading firm DWF Labs.Both BTC and ETH have yet to clear July highs but are closing in on key 70k and 2800 resistance levels.
“However with no major catalysts this week, we expect crypto to chop around these levels as it attempts to break higher. In terms of macro data, we only have PMI numbers on Thursday where the market will look for some reassurance if the Fed will remain on their rate cut path,” QCP Capital wrote.. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications.
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