Cryptocurrency prices are back in the red on Monday following a short-lived rally on Friday, triggered by Federal Reserve (Fed) Chair Jerome Powell’s dovish remarks, which signalled interest rate cuts in September.
Bitcoin hovers near$111,500as institutional demand dwindles. Ethereum holds above the 50-day EMA support buoyed by steady institutional demand and capital rotation.XRP struggles toholdits $3.00 support amid declining futures funding rate.Cryptocurrency prices are back in the red on Monday following a short-lived rally on Friday, triggered by Federal Reserve Chair Jerome Powell’s dovish remarks, which signalled interest rate cuts in September.
A steady recovery from near-oversold conditions could boost interest in BTC, encouraging traders to buy the dip, anticipating a strong reversal.BTC/USD 4-hour chartAltcoins update: Ethereum upholds support, XRP struggles with recoveryEthereum price holds above the 50-period Exponential Moving Average , hinting at potential entry opportunities ahead of another reversal toward its $4,955 record high and the key $5,000 level.
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