Crypto markets rose on Monday, continuing a trend began on Sunday, when bitcoins and most ultcoin crashed.
The price of bitcoin (BTC) rose to $ 115,300, from a low of $ 112,000 in the weekend. Other altcoins, especially spark (SPK), MemeCore (M), Mental (MNT), and SEI (SEI) were among the top beneficiaries. The market cap of all coins exceeded $ 3.78 trillion.
Crypto Market Rali Bulish ahead of IPO
One of the top news running the Crypto Market is Rali, which is fast, an exclusive supported by Peter Theal, an eye on the offer of the initial public office of $ 4.2 billion. The company aims to raise $ 629 million by offering 20.3 million shares.
This listing comes after a highly successful circle internet IPO, which increased its market capitalization to its peak to more than $ 60 billion. Grassscale, giant crypto asset manager, and cracon, another exchange, has also filed for the IPO.
These news cases often increase interest in the crypto market, increasing prices.
President Donald Trump to nominate Fed Governor
Bitcoins and altcoins are also growing as President Donald Trump, which are to convert Adrena Kugler into a Federal Reserve Governor. His resignation gives Trump his first option to reopen the Fed as he advocates the interest rate cut.
For Bloomberg, the new Fed Governor can become the chairman at the end of the tenure of Jerome Powell in 2026. The rate cut is advocated.
Crypto prices perform well when the Federal Reserve is cutting interest rates, as seen in 2024.
Bitcoin price fell for a significant support
The crypto market is also rebounding after bitcoin fell at an important support level. As the chart suggests, BTC was at $ 112,000 on Sunday, as a notable level it was in May and the highst point in the previous all-time high.
Falling back to that level is a sign that bitcoin has formed a brake-end-restless pattern-one continuity signal. If it holds it, bitcoin can rebound $ 123,192 and beyond all -time high levels, which can promote other altcoins.
However, there is a risk that the ongoing crypto market is part of a bull mesh or a dead-Kat bounce. A bull journey occurs when a property in a decline temporarily accepts its decline before resuming its decline.