Global tensions are rising, adding pressure and uncertainty to crypto market.
The cryptocurrency market has been swinging between gains and losses recently, and this week could play a crucial role in setting the direction for what’s next, especially for altcoins and stablecoins.
At the time of writing, the total crypto market cap stands at $3.27 trillion, down 1.72% over the last 24 hours. Most coins are in the red today. Bitcoin is down 1.74% in the last 24 hours, now trading at $105,036. Ethereum has dropped 2.09% to $2,525. XRP and Solana have fallen 3%. BNB also slid and Dogecoin lost 1.75%.
One market analyst said that altcoins recently went through a rally, followed by a cooling-off phase. He compared the current trend to what happened in late 2023, when altcoins paused after an initial surge, then rallied again a couple of months later.
Related: FOMC Meeting Tomorrow as All Eyes are on Powell’s Speech for Crypto Rally Clues
A similar pattern could be playing out now, with altcoins possibly co…
