Leading cryptocurrencies displayed sideways movement on Tuesday despite signals that the Ukraine-Russia conflict could be coming to an end.

What Happened: Bitcoin corrected to an intraday low of $81,179.99 in the early morning hours but staged a recovery past $83,000 overnight after President Donald Trump's call with Russian President Vladimir Putin signaled a Ukraine ceasefire.

The apex cryptocurrency was trading at $83,059.08 at the time of writing, having dropped 0.74% over the last 24 hours.

The third largest cryptocurrency bounced back from morning lows to trade at $1,945, registering a 24-hour loss of 0.64%.

The global cryptocurrency market capitalization stood at $2.71 trillion, marking a contraction of 0.96% over the last 24 hours.

The market also saw more than $214 million get liquidated from the market in the last 24 hours, with bullish bets accounting for over $140 million.

However, about $376 million in shorts risked liquidation if Bitcoin reclaimed $85,000. If the apex cryptocurrency manages to rise further and reclaim $87,000, a further $500 million in shorts would be wiped out.

Bitcoin's Open Interest fell 0.89% in the last 24 hours, tracking the trajectory of the spot price.

The Long/Short ratio indicated that over 50% of Bitcoin derivatives traders were short on the apex cryptocurrency, suggesting further downsides could be in the works.

Crypto Fear and Greed Index remained in "fear" despite a slight uptick.

Top Gainers (24-Hours)

Top Losers (24-Hours)

The tech stocks saw some correction after a positive start to the week. The Dow Jones Industrial Average fell 260.32 points, or 0.62%, to close at 41,581.31. The S&P 500 slid 1.07%, ending at 5,614.66, while the tech-focused Nasdaq Composite dropped 1.71% to close at 17,504.12.

The tech stocks correction follows electric vehicle giant Tesla Inc.'s TSLA 5.34% dump during the session, while Nvidia Corp. NVDA closed 3.43% lower.

Investors will likely now turn their attention to the Federal Reserve's decision on interest rates on Wednesday. The CME FedWatch tool projected a 99% chance of the current 4.25%-4.50% range remaining unchanged.

See More: Best Cryptocurrency Scanners

Analyst Notes: Noted cryptocurrency analytics firm CryptoQuant highlighted "aggressive" accumulation by high-net-worth Bitcoin holders, or those holding at least 1,000 BTCs

"On-chain data confirms that since November 2024, these wallets have collectively acquired over 1 million BTC," CryptoQuant stated. "If this trend continues, it could act as a key support mechanism for Bitcoin's price in this cycle."The Surge of New Bitcoin Whales"Since November 2024, these wallets have collectively acquired over 1 million BTC ... Their accumulation pace has accelerated notably in recent weeks, accumulating more than 200,000 BTC just this month." – By @0nchained pic.twitter.com/jVsFPjY8WACryptoQuant further noted that these high-net-worth wallets were seen accumulating during periods of price weakness.

"Moreover, they appear to be dumping their altcoins and concentrating their portfolio value in Bitcoin," the firm added.

Crucially, reclaiming $93,700 as support could propel #Bitcoin $BTC toward $111,000. https://t.co/A1Hyg3cTuB

Crucially, reclaiming $93,700 as support could propel #Bitcoin $BTC toward $111,000. https://t.co/A1Hyg3cTuBCrucially, reclaiming $93,700 as support could propel #Bitcoin $BTC toward $111,000. https://t.co/A1Hyg3cTuBCrucially, reclaiming $93,700 as support could propel #Bitcoin $BTC toward $111,000. https://t.co/A1Hyg3cTuB