Major coins traded lower on Monday night as investors appeared to be positioning ahead of Wednesday’s Federal Reserve interest rate decision.
| cryptocurrency | Profits (+/-) | Price (taken at 9:30pm EST) |
|---|---|---|
| Bitcoin | -0.02% | $27,856 |
| ether | -1.93% | $1,748 |
| Dogecoins | -4.56% | $0.071 |
What happened: Apex cryptocurrency Bitcoin BTC/USD saw its highest trading price of the day rise to $28,459 on Monday, shortly after the Federal Reserve announced its partnership with five other major central banks to ensure a steady flow of the US dollar. Although the price saw a decline to $27,856.
ether ETH/USD down 1.93% to change hands below $1,800. Dogecoins DOGE/USD was trading at $0.071, down 4.56% in the last 24 hours.
At the time of writing, the global crypto market cap was $1.16 trillion, down 1.19% from the last day.
US stocks rose on Monday, led by the S&P 500 and Nasdaq Composite, amid mounting signs the banking crisis may be beginning to ease. This comes after the Swiss government intervened and staged a takeover Credit Suisse Group CS from UBS. The S&P 500 rose 0.89%, while the Nasdaq Composite gained 0.39%.
See more: Best Crypto Day Trading Strategies
News Highlights: coin base COIN has reportedly ended support for Signature Bank’s Signet payments platform more than a week after New York regulators shut down the crypto-friendly institution. According to The Wall Street Journal, Coinbase users will not be able to use Signet to send funds outside of bank hours until further notice.
Analyst Notes: “Bitcoin is rallying as Wall Street becomes more aggressive in pricing Fed rate cuts and banking sector worries drive some into alternative assets away from traditional funding. Bitcoin was closer to $40,000 in early trade than the November low,” he said Edward Moyasenior market…
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