Bitcoin Edges Lower, Ethereum Rises Amid Mixed Crypto Market Trends
Bitcoin's Slight Decline and Market Stability
Bitcoin dipped 0.5% to $96,368.7 on Monday, staying within its February range of $94,000 to $100,000. U.S. markets were closed for Presidents' Day, potentially contributing to reduced trading activity. Investors are awaiting Federal Reserve meeting minutes and global business activity data for potential market cues.
Ethereum and Altcoin Performance
Ethereum rose 3.2% to $2,778.28, while XRP dropped 1.9% to $2.6819. Solana declined 3.0%, and Polygon gained 1.2%. Cardano saw a significant 5.8% increase. Meme tokens were mixed, with Dogecoin falling 0.6% and $TRUMP slipping 7.1%.
Market Outlook and Key Factors
The crypto market remains influenced by macroeconomic developments, including central bank policies and global economic data. Investors are closely monitoring upcoming Fed updates and business activity reports for insights into future market trends.
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