Bitcoin, Ethereum and Dogecoin Pull Back as Israel Launches Land Operations in Lebanon – Analyst Says Google Trends Plunges for Crypto King One Bullish Thing: 'Believe It or Not' – Grayscale Bitcoin Mini Trust (BTC) Common Units of fractional undivided beneficial interest (ARCA) :BTC)

Major cryptocurrencies retreated on Monday as geopolitical tensions rose after Israel launched a military operation in Lebanon.

What happened: bitcoin went downhill throughout the day, falling at one point below $63,000, erasing gains from the previous day's rally to $66,000.

Ethereum was comparatively less complicated as it continued to move in the $2,600 region.

The Israeli military has reportedly launched a localized operation against Hezbollah targets in southern Lebanon, the latest outbreak of hostilities in the tense Middle East region.

Cryptocurrency liquidations exceeded $225 million in the last 24 hours, the highest figure since September 6. More than $180 million locked in long positions were erased.

Bitcoin open interest fell 1.14%, further indicating the liquidation of bullish leveraged bets.

According to the Long/Short ratio, the number of traders who opened short positions for the leading cryptocurrency continued to outnumber those who took bullish positions.

Market sentiment fell from “Greed” to “Neutral,” according to the popular Cryptocurrency Fear & Greed index.

On a positive note, the market ended September at a high, with the largest monthly gains ever recorded: 7.35%.

Top winners (24 hours)

The global cryptocurrency stood at $2.23 trillion in the last 24 hours, contracting by 2.42% in the last 24 hours.

Stocks closed September on the rise. He S&P 500 gained 24.31 points, or 0.42%, to close at 5,762.48, while the Dow Jones Industrial Average rose marginally by 0.04% to finish at 42,330.15. Both blue-chip indices closed at all-time highs. He Nasdaq Composite added 0.38% to finish at 18,189.17.

The rally recovered losses after the Federal Reserve chairmanship Jerome Powell He comments that economic data would determine the speed of future interest rate cuts and that the regulator was in no hurry.

The US dollar initially strengthened following the hawkish comment, with the dollar index rising to 100.75. At last check, the index was down 0.04% to 100.715.

Investors' next focus would be on September unemployment data, which is due out on Friday. Powell stated that one of the Federal Reserve's main goals was not to increase unemployment, as this reduces inflation.

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Analyst Notes: Popular on-chain research firm Santiment highlighted its previous analysis, which predicted a market top due to strong bullish sentiment from the Bitcoin crowd.

“With Monday's pullback, some panic selling is expected. If FOMO turns to FUD, the bull market should resume quickly,” Santiment predicted.

Influential cryptocurrency trader Ali Martinez He also highlighted lower interest in King Crypto, citing fewer internet searches. “Believe it or not, this is bullish!” he added.