Bitcoin briefly tops $82,000 as crypto market rallies on SEC tokenization push

Leading cryptocurrencies rallied on Sunday as risk appetite increased amid the Securities and Exchange Commission's push to introduce tokenized-stock products. Bitcoin briefly surpassed $82,000 late in the evening before pulling back. Ethereum rose above $2,700, supported by a 41% increase in 24-hour trading volume. XRP and Dogecoin also gained, according to the headline. Sentiment improved after the SEC introduced a regulatory pathway allowing certain tokenized U.S. stocks to trade on blockchains. Nearly $400 million in cryptocurrency positions were liquidated over the previous 24 hours, with short positions recording the heaviest losses, according to CoinGlass data. Bitcoin's open interest rose 0.90% over 24 hours and nearly 10% over the week. Retail and large derivatives traders on Binance remained neutral on Bitcoin. The Crypto Fear & Greed Index returned to "Greed" sentiment. The global cryptocurrency market capitalization stood at $2.81 trillion, up 1.12% over 24 hours. Stock futures also rose overnight on Sunday. Dow Jones Industrial Average futures gained 115 points, or 0.22%, as of 8:44 p.m. EDT. S&P 500 futures rose 0.34%, while Nasdaq 100 futures gained 0.53%. Middle East tensions escalated after Yemen-based Houthis targeted a key Saudi Arabian airport and a fuel depot belonging to Saudi Aramco. The State Department warned Americans to reconsider travel to and through the Middle East and to exercise increased caution. Cryptocurrency analyst and trader Killa said Bitcoin was being targeted at $89,070 and advised against shorting near $81,000. Killa said they were not interested in repeatedly shorting the same $81,000 highs and preferred to wait for higher prices if Bitcoin remained in a range. Chartist and on-chain researcher Ali Martinez noted Ethereum's breakout above $2,560 and its clean retest of that level as support. Martinez said $2,760 was the next major target being watched while the breakout held.