CrowdStrike(US:CRWD) Benzingaยท2025-10-29 02:21Cryptocurrency Market Overview - Leading cryptocurrencies experienced declines, with Bitcoin down 1.77% at $112,213.85, Ethereum down 3.80% at $3,971.82, and Solana down 3.31% at $193.77 [1][2] - Bitcoin's trading volume surged by 11% in the last 24 hours, reaching an intraday high of $116,078 before falling back [3] - Approximately $400 million in bullish long positions were liquidated in the cryptocurrency market within the last 24 hours, while nearly $580 million in Bitcoin shorts are at risk of liquidation if prices rebound to $117,000 [3][4] - The global cryptocurrency market capitalization decreased by 1.91% to $3.78 trillion [5] Stock Market Performance - The stock market reached record highs, with the Dow Jones Industrial Average rising by 161.78 points (0.34%) to 47,706.37, the S&P 500 increasing by 1.23% to 6,875.16, and the Nasdaq Composite up by 0.80% to 23,827.49 [6][7] - Nvidia Corp. led the stock surge, gaining nearly 5% after announcing a $1 billion investment for a 2.9% stake in Nokia Corp. [7] Market Sentiment and Predictions - High expectations from an upcoming meeting between President Donald Trump and Chinese President Xi Jinping, along with nearly 100% odds of a Federal Reserve interest rate cut, contributed to bullish market sentiment [8] - Analyst Ali Martinez indicated that Bitcoin needs to surpass $120,000 to potentially reach $143,000, based on Market Value To Realized Value Extreme Deviation Pricing Bands [9] - On-chain analytics firm CryptoQuant suggested that the market is in a "relatively small" correction phase, with a potential surge in altcoins expected as the cycle nears its end [10]