Leading cryptocurrencies rose alongside stock futures on Sunday as President Donald Trump pressed for a coordinated effort to keep oil exports from the Strait of Hormuz running.

Crypto Market Sees Relief Rally

Bitcoin spiked during evening hours, with trading volume surging 33% over the past 24 hours.

Ethereum outperformed Bitcoin,  reaching an intraday peak of $2,200 amid surging trading volume that signaled strong buying momentum.

Roughly $194 million was liquidated from the cryptocurrency market over the past 24 hours, with short positions worth $145 million evaporated, according to Coinglass data.

Open interest in Bitcoin futures rose 2.92% in the last 24 hours. However, sentiment among…

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