Bitcoin (BTC) and Leading Cryptocurrencies Traded Sideways on Sunday Following Trump's Tariff Reprieve

Leading cryptocurrencies traded sideways on Sunday after President Donald Trump's tariff reprieve on technology products.

President Donald Trump's tariff reprieve on technology products saw leading cryptocurrencies trading sideways on Sunday.

What Happened: Bitcoin touched an intraday high of $86,015 before being dragged down by profit-taking. The apex cryptocurrency had a rough start to the week but has recovered, gaining over 7% in the last seven days.

The price of BTC hovered around the $84,000 at press time.

Meanwhile, Ethereum struggled to reclaim $1,700, wobbling in the $1,600 region throughout the week.

Bitcoin maintained a market dominance of more than 62%, while Ethereum's share fell to 7.3%.

Nearly $340 million was liquidated from the market in the last 24 hours, with over $225 million in long positions erased.

Bitcoin's Open Interest fell by 5.47% in the last 24 hours. Moreover, the Long/Short Ratio on Binance rose to 0.94, indicating an increase in bullish positioning for the asset.

The market sentiment was one of "Fear," according to the Crypto Fear and Greed Index, marking an improvement from the "Extreme Fear" witnessed last week.

Top Gainers (24-Hours)

The global cryptocurrency market capitalization stood at $2.68 trillion, following a marginal decline of 0.84% in the last 24 hours.

Stock futures edged higher Sunday night. The Dow Jones Industrial Average Futures rose 147 points, or 0.36%, as of 8:30 p.m. ET. Futures tied to the S&P 500 added 0.74%, while Nasdaq 100 Futures spiked 1.25%.

The latest spike followed Trump's exemptions on consumer electronics and semiconductors, including those from China, from reciprocal tariffs, providing temporary relief to tech behemoths like Apple (NASDAQ:AAPL) Inc and Nvidia Corp (NASDAQ:NVDA).

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Analyst Notes: Popular blockchain analytics firm CryptoQuant noticed the narrowing difference between Binance's perpetual futures price and the spot price of Bitcoin.

"The perpetual-spot gap can shift quickly and often leads price action. If it turns positive soon, it could be a clear sign of returning buyer confidence and the potential for another bullish wave. A positive gap indicates that traders are willing to pay a premium on futures, reflecting confidence in continued upside," CryptoQuant added.

"The Bitcoin Perpetual-Spot Gap Is Narrowing"The Perpetual-Spot Gap can shift quickly and often leads price action. If it turns positive soon, it could be a clear sign of returning buyer confidence and the potential for another bullish wave. A positive gap indicates that traders are willing to pay a premium on futures, reflecting confidence in continued upside." – By @joao_wedson pic.twitter.com/T74gzwaLMz"

Widely followed cryptocurrency analyst Ali Martinez highlighted $86,000 as a key resistance zone for Bitcoin.

"A rejection could send it back to $79,000, but a breakout might open the path to $97,000," the analyst predicted.

$86,000 is a key resistance zone for #Bitcoin $BTC. A rejection could send it back to $79,000, but a breakout might open the path to $97,000.

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