Bitcoin and major cryptocurrencies, including Ethereum, XRP, and Solana, traded lower on Monday as investors unwound bullish positions taken after last week’s Federal Reserve rate cut.
At the press time, Cardano is tracking lower, BNB has shed weight, and USDT and Dogecoin have plummeted as investors’ mood switched in the process of reassessing the Fed rate cut on portfolio building.
With sell pressures, market cap of all listed cryptocurrencies fell by 3.44% in the last 24 hours to a market cap of $3.89 trillion, according to data obtained from CoinMarketCap.com
Last week went rather well for most of the crypto assets, including altcoins. BTCUSD saw its price go from under $115,000 to a monthly peak of $118,000 on Thursday morning, just hours after the US Federal Reserve finally cut the key interest rates.
However, the cryptocurrency failed to maintain its run and quickly dipped toward $115,000 on Friday. The world largest crypto asset traded sideways around $115,000 and $116,000. The latest rejection at the latter came on Saturday evening, but bitcoin still maintained the $115,500 support on Sunday.
The token was down 2.5% to $112,965 over the past 24 hours, according to data from CoinDesk. It’s now trading about 10% off the record high it hit last month.
Other cryptos were slumping, too. Ethereum dropped 6.5%, Solana tumbled 7.2%, and XRP fell 5.6% over the past 24 hours, per data from the Kraken crypto exchange.
Volume remains solid in the market. Cryptocurrency funds recorded a second consecutive week of inflows last week, extending the $3.3 billion in gains recorded the week before.
Crypto exchange-traded products (ETPs) logged $1.9 billion in inflows last week, data from CoinShares showed Monday. Bitcoin and Ether led the way with inflows of $977 million and $772 million, respectively, while Solana and XRP also saw strong demand with $127 million and $69 million of inflows.
The Fed cut rates by a quarter point on Thursday, which was the first time it had lowered borrowing costs in 2025. But Chair Jerome Powell labelled the decision a “risk-management cut,” suggesting the central bank will move cautiously rather than aggressively easing monetary policy.
