Leading cryptocurrencies remained in balance on Sunday as investors awaited a strong trigger to move the market either way.
What Happened: Bitcoin faced resistance around its previous all-time high as it wobbled in the $67,000–$68,000 zone.
The uncertainty also dragged on Ethereum, with the second-largest cryptocurrency facing stiff resistance around $3,800.
The market saw liquidations worth $141.57 million in the last 24 hours, with $91 million worth of longs getting wiped out.
The absence of volatility was also evident in the derivatives market. Open Interest in Bitoin futures grew just 0.14% in the last 24 hours, indicating that investors were waiting and watching.
The Cryptocurrency Fear & Greed Index continued to flash "Greed" as of this writing, implying a potential rise in buying pressure.
Top Gainer (24 Hour)
The global cryptocurrency market cap stands at $2.52 trillion, following a 0.46% increase in the last 24 hours.
Stocks futures edged higher on Sunday. The Dow Jones Industrial Average Futures rose 107 points, or 0.28%, as of 8:30 p.m. EDT. Futures linked to the S&P 500 gained 0.29%, while Nasdaq 100 Futures were up 0.25%.
Wall Street entered June following an impressive performance last month, with all three major indices hitting record highs.
This week, investors will focus on key important economic updates including manufacturing data due on Monday and a key jobs report on Friday to assess the Federal Reserve's sentiment on interest rates.
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Analyst Notes: Popular cryptocurrency analyst TARA observed a "critical" moment for Bitcoin on the price chart, prompting her to forecast an all-time high.
"The full ABCDE on price and RSI has been completed. It just broke up out of resistance (RSI) and has completed the test of the breakout ($67.8k). I think we’re about to see a MAJOR impulse up to $75.8k.. a new ATH!"
Prominent analyst Michaël van de Poppe interpreted the sideways altcoins movement positively and hoped for an upside breakout and new highs in the coming weeks.
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