Bitcoin traded around $82,500 on Monday, up approximately 0.5% since midnight UTC, extending a bounce from Sunday's dip to roughly $80,700. The move came as Nasdaq 100 futures advanced more than 1% and Asian stocks gained following China's third-quarter GDP growth of 4.5%, which beat expectations.
Altcoins outpaced bitcoin, with the broader CoinDesk 80 index gaining 0.9%, more than triple the 0.35% rise in the bitcoin-heavy CoinDesk 5. Ether added 0.75% to near $2,430, while the DeFi sector led gains with a 0.81% increase, with all six members of the DeFi index higher.
The cryptocurrency rebound follows a difficult week for U.S. technology stocks, with the Nasdaq falling 4.5% in its worst weekly decline since June amid concerns over artificial intelligence spending and debt.
Altcoin Movers
Arbitrum, an Ethereum layer-2 token, rose 6.7% to about $0.20 following the Arbitrum Foundation's announcement of its Stablecoin Growth Program on Thursday. The program allocates 2 million ARB for the first 10 teams to hold $10 million in USDG, a dollar-pegged stablecoin issued by Paxos Digital Singapore. ARB has risen 16.45% since the announcement.
DeFi tokens advanced broadly, with Uniswap up 3.2% to around $7.42, while Lido and Ethena rose 2.5% and 1.6% respectively. Pump.fun, the token of the Solana memecoin launchpad, jumped 7.6% to around $0.0045, with 24-hour trading volume doubling to $215 million.
Among other major cryptocurrencies, Solana rose 1.6% to about $106, while XRP gained 0.6% and BNB added 0.36%. Cardano slipped 0.15% and Hedera fell 0.83%.
Derivatives Activity
Total 24-hour crypto futures volume rose 51% to $146 billion, while open interest edged up 1.25% to $141 billion. Liquidations totaled $329 million with balanced taker long-short volume ratios. Bitcoin and ether 30-day implied volatility indexes remained calm despite a spike in the VIX on Wall Street.
