From Nasdaq:

The global cryptocurrency market cap inched up 0.6% to $1.64 trillion; major coins traded in the green at the time of publishing. Bitcoin fluctuated between $42,298.30 and $43,494.25. The Federal Reserve maintained interest rates at 5.25% and 5.5%, impacting risk assets and dampening near-term rate hike hopes.

Federal Reserve Chair Jerome Powell acknowledged that inflation was not “dead” and that the U.S. central bank would wait for “more good data” before deciding on rate cuts. Major coins moved alongside equities at the time of publishing, with positive U.S. stock futures. However, the Nasdaq dropped 0.2% to 15,597.68, and the Dow Jones Industrial Average declined 0.7% to 38,380.12 on Monday.

The dollar surged to 11-week highs on Monday as investors’ rate cut expectations diminished. The dollar index was at 104.02, up marginally by 0.03%.

Cryptocurrency trader Michaël van de Poppe believes that the next two years will see a “massive bull run” for both Bitcoin and cryptocurrencies. He also shared his “gameplans” for Ethereum on social media.

Chainlink (LINK) defied Monday’s cryptocurrency downturn and faced “stiff resistance” between $19.40 and $20.03, with 5,330 addresses holding over 8.59 million LINK. LINK gained 1.6% on Monday, hovering at $18.96 at the time of publishing.

Market analytics platform Santiment noted that the cryptocurrency market is undergoing bearish sentiment and deviating from the usual growth observed since the bull cycle started in October. Major cryptocurrencies like Bitcoin, Ethereum, Cardano, and Solana are displaying a more negative sentiment than historical averages.

Santiment said this is the first time in six months that this has happened, and it is a signal of an “impending bounce” when traders become concerned and display fear, uncertainty, and doubt.

Santiment urged caution for traders when markets move in a less expected direction, catching many #short traders off guard.



Read more: Bitcoin, Ethereum, Dogecoin Stand Strong Even As Markets Quake On Rate Anxiety: Analyst Sees 38% Upside For This Resilient Crypto Gem