Ethereum’s price gained 4.7% in the last 24 hours, whereas Bitcoin’s price rose 2.7%. Softer-than-expected inflation data ahead of the Federal Reserve’s rate decision later this week seems to have lifted retail sentiment.Traders will also been eyeing developments from the meeting between U.S. President Donald Trump and Chinese President Xi on Thursday in South Korea.
Leading altcoin Ethereum (ETH) outperformed Bitcoin (BTC) in early morning trade on Monday as retail sentiment around both tokens improved ahead of the Federal Reserve’s rate decision, scheduled for Wednesday.
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Bitcoin’s price gained 2.7% in the last 24 hours to trade at around $115,355 on Monday. On Stocktwits, retail sentiment around the apex cryptocurrency improved to ‘neutral’ from ‘bearish’ territory over the past day as chatter rose to ‘normal’ from ‘low’ levels.
Meanwhile, Ethereum led gains among the top 10 cryptocurrencies by market capitalization. Ethereum’s price rose 4.7% in the last 24 hours to trade at around $4,166 in early morning trade. Retail sentiment around the altcoin surged to ‘bullish’ from ‘bearish’ territory, accompanied by chatter increasing to ‘normal’ from ‘low’ levels.
Crypto Markets Brace For Rate Cut, Trade Talks
Last week’s softer-than-expected inflation data and progress of the trade deal between China and the U.S. have also lifted investor sentiment. Traders will also be eyeing developments from the meeting between U.S. President Donald Trump and Chinese President Xi on Thursday in South Korea.
According to the CME FedWatch Tool, traders now see a 96.7% probability that the Fed will cut rates by 25 basis points at its upcoming meeting.
Altcoins, Equities Track Crypto Momentum
Binance Coin (BNB) gained at par with Bitcoin, rising 2.7% in the last 24 hours. Meanwhile, altcoins Solana (SOL) and Cardano (ADA) both gained around 2.3% each. Memetoken Dogecoin (DOGE) was up 1.8% in the last 24 hours.
The only altcoin in the red was Ripple’s native token XRP (XRP). XRP’s price edged 0.8% lower in the last 24 hours, with retail sentiment on Stocktwits trending in ‘neutral’ territory over the past day. It was among the top trending crypto tickers on the platform at the time of writing.
Coinglass data showed that liquidations stood at $468 million in the last 24 hours. Around $109 million came from long bets — traders who expected the price to rise – while the other $358 came from short positions.
The overall cryptocurrency market rose by 2.4% in the last 24 hours, with a market capitalization of around $3.97 trillion. On the equities side, shares of Strategy (MSTR), the largest corporate holder of Bitcoin, rose 4.2% in pre-market trade. Meanwhile, shares of Ethereum-backed digital asset treasury (DAT) firm Bitmine Immersion Technologies (BMNR) jumped 6%. Crypto-exchange Coinbase (COIN) climbed around 2.8%.
Read also: Gold Miners Retreat After Bullion Slips As US-China Agree To Framework Of A Trade Agreement
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