Altcoins Outperform As Bitcoin Holds Steady at $114,000 After Weekend Volatility Following Trump’s China Tariff Threat

Altcoins outperformed and Bitcoin (BTC) held steady at around $114,000 in early morning trade on Monday after the weekend rollercoaster that followed President Donald Trump’s China tariff threat.

According to on-chain analysis firm Glassnode, Friday’s wipeout after Trump’s post on Truth Social triggered the largest futures liquidation in Bitcoin’s history. “Over $11B in open interest was erased as leverage was forcefully unwound,” it said. “A historic deleveraging event that has reset speculative excess across the market.”

Bitcoin’s price gained 2.5% in the last 24 hours, with retail sentiment on Stocktwits trending in ‘bullish’ territory amid ‘high’ levels of chatter. Ethereum (ETH), meanwhile, outperformed the leading cryptocurrency with gains of nearly 8% in the last 24 hours. Ethereum’s price traded at around $4,100 at the time of writing. Retail sentiment around the altcoin was also in ‘bullish’ territory with message volume at ‘high’ levels.

Cardano (ADA) led gains among the top 10 cryptocurrencies by market capitalization. ADA’s price was up more than 10% in the last 24 hours, trading at around $0.7111. Retail sentiment around Cardano improved to ‘bullish’ from ‘neutral’ territory over the past day, with retail chatter at ‘high’ levels. 

Cardano’s gains were followed by Dogecoin (DOGE), which rose around 9.8% in the last 24 hours, and Ripple’s native token XRP (XRP) rose around 8.1% to trade at $2.60 at the time of writing. 

Solana (SOL) and Binance Coin (BNB) were also in the green. Solana’s price rose around 7.3% in the last 24 hours, while BNB’s price gained 5.8%. According to a Bloomberg report, Beijing-based China Renaissance Holdings is seeking to raise about $600 million for a new public vehicle that would invest in a cryptocurrency closely linked to Binance Holdings.

The report said YZi Labs plans to invest in the deal alongside China Renaissance, according to people familiar with the matter. They said the two firms intend to commit $200 million jointly. This reportedly comes after China Renaissance disclosed in an August filing that it would invest roughly $100 million directly into BNB.

On the equities side, Strategy (MSTR), the largest corporate holder of Bitcoin, edged 0.3% higher in pre-market trade. Meanwhile, Ethereum-treasury firm Bitmine Immersion Technologies (BMNR) gained as much as 4%. Crypto-exchange Coinbase (COIN) rose 1.6%. 

Read also: Jamie Dimon Says ‘America Needs More Speed’ As JPMorgan Announces $1.5T Investment Plan For US Strategic Industries

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