The Delay in Rate Cuts: Despite market rumors that the Federal Reserve may shift towards a looser monetary policy, rate cuts remain far off. Both institutional and retail investors are unwilling to take risks on altcoins before borrowing costs decrease.

The Federal Reserve is expected to maintain the benchmark interest rate on Wednesday, with traders believing that the central bank will keep the target rate range at 4.25% to 4.5% for the third consecutive time, with a probability of 97%.

Although Trump has repeatedly urged Federal Reserve Chairman Jerome Powell to lower rates, the central bank has kept rates steady, waiting to observe the impact of the White House's efforts to reshape global trade on the U.S. economy and the potential inflation that may arise.