Bitcoin rebounds to $74,685 after $1.2 billion in crypto liquidations

U.S. stocks surged on Monday, recovering from recent declines as oil prices retreated and investor sentiment improved ahead of key economic data. The S&P 500 rose 1.9% while the Nasdaq Composite gained 2.2% by midday. A sharp 4.3% drop in Brent crude oil to roughly $94 a barrel boosted the broader market, even though shares of major tech firm Nvidia declined, raising jitters among technology investors. Traders moved to price in an approximately 80% probability of a Federal Reserve quarter-point rate increase in December. This adjustment followed a stronger-than-expected U.S. jobs report, which raised expectations for continued monetary tightening. Market participants are now awaiting Tuesday’s release of the October consumer price index from the Bureau of Labor Statistics.

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