The global cryptocurrency market capitalization is holding steady near $3.5 trillion as investors anticipate a positive start to the US trading week. Bitcoin’s price reached $105,800, pushing its total valuation past the $2 trillion milestone. This surge follows the announcement of a temporary trade agreement between the US and China aimed at reducing tariffs. Among the top-performing assets, Shiba Inu, Pi Network, and Dogecoin emerged as significant gainers.
Market sentiment appears cautiously optimistic as institutional and retail participants position themselves for potential upward momentum. The overall market dip of 0.7% at the time of writing does not overshadow the underlying bullish indicators observed in derivatives and options activity.
Bitcoin Market Performance
Bitcoin’s price extended its rally on Monday, breaking above the critical psychological barrier of $105,000. Despite failing to surpass its previous all-time high near $107,000, trading volumes exceeded $33 billion in 24 hours—a notable increase since US markets closed on Friday.
This rise in trading activity suggests growing demand, even as prices consolidate. Investors are closely watching for cues from corporate and institutional players as traditional finance markets reopen.
Derivatives and Options Data
Positive sentiment surrounding the US-China trade agreement has fueled a wave of long bets in Bitcoin derivatives markets. Open interest increased by 2.53%, reaching $68.19 billion, while trading volume spiked 29.39% to $97.01 billion.
These figures indicate aggressive capital inflows and a strong appetite for leveraged positions. More significantly, options volume soared 89.90% to $4.03 billion, and open interest climbed 3.14% to $38.28 billion. This divergence often signals substantial institutional involvement and confidence in continued price appreciation.
For those looking to 👉 track real-time market metrics, derivatives and options data provide critical insights into market sentiment.
Altcoin and Memecoin Rally
As Bitcoin consolidates near its all-time high, altcoins and memecoins have captured investor attention. Dogecoin and Shiba Inu recorded gains of 6.5% and 7.2%, respectively, over 24 hours. Pi Network, a mobile-based mining project, surged 46.6%.
This outperformance among retail-focused assets suggests increased participation from individual investors. It also reflects a broader trend of capital rotation into riskier assets during periods of market optimism.
Market Dynamics Shift
The rise of memecoins and community-driven tokens indicates two key shifts:
- Growing retail engagement as positive sentiment persists.
- Institutional players taking leveraged positions in low-liquidity tokens to capitalize on retail-driven volatility.
The aggregate cryptocurrency market cap of $3.49 trillion, though down marginally, highlights this trickle-down effect. As Bitcoin stabilizes, altcoins often benefit from diverted attention and capital.
Key Market Updates
Ledger’s Security Incident
Crypto storage provider Ledger recently regained control of its Discord server after a hacker compromised a moderator’s account. The attacker used a bot to direct users to a fraudulent website and prompt seed phrase entry. Ledger responded by removing the compromised account, deleting the malicious bot, and implementing stricter server permissions. The company also reported the phishing site to relevant authorities.
US-China Trade Talks Progress
The US and China made “substantial progress” in bilateral trade negotiations held in Switzerland. A detailed announcement is expected soon, with anticipated commitments on tariffs, market access, and supply chain stability. These developments are closely watched by global markets, given their potential impact on risk assets, including cryptocurrencies.
FTX EU User Fund Withdrawals
Former FTX EU users can now withdraw funds through Backpack, which acquired FTX’s European arm in January 2025. Eligible users must complete KYC verification to access Euro balances. Those who haven’t selected Backpack as their distribution channel need to contact support to update account details. The claims process began on April 1, with no deadline currently set.
Frequently Asked Questions
Why did Bitcoin’s price increase on Monday?
Bitcoin’s price rose due to positive sentiment around the US-China trade agreement, which temporarily reduces tariffs. This development boosted investor confidence in risk assets, including cryptocurrencies.
What are the top-performing cryptocurrencies?
Shiba Inu, Pi Network, and Dogecoin were among the top gainers, with Pi Network surging over 46%. These assets often benefit from increased retail participation during bullish phases.
How did derivatives markets react?
Derivatives data showed a significant increase in open interest and trading volume, indicating strong institutional interest and leveraged long bets. Options activity also surged, reflecting expectations of further price gains.
What caused Ledger’s Discord breach?
A moderator’s account was compromised, allowing a hacker to deploy a phishing bot. Ledger swiftly addressed the issue by enhancing security measures and reporting the incident.
Can FTX EU users recover their funds?
Yes, eligible users can withdraw funds via Backpack after completing KYC verification. The process began on April 1, and no deadline has been set yet.
What does the US-China trade agreement mean for crypto?
Reduced trade tensions typically improve market sentiment, benefiting risk-on assets like cryptocurrencies. The agreement may lead to increased institutional inflows and greater market stability.
Conclusion
Monday’s cryptocurrency market activity reflected a blend of cautious optimism and strategic positioning. Bitcoin’s resilience near all-time highs, combined with robust derivatives activity, suggests underlying strength. Altcoins and memecoins outperformed, highlighting increased retail engagement. Developments in trade relations and security responses further shaped market dynamics. For those interested in 👉 exploring advanced market strategies, staying informed about these trends is essential. As always, investors should conduct thorough research and consider risk management principles before making decisions.