Altcoins may consolidate for weeks before a breakout happens again.
Fed meeting this week could impact crypto prices and sentiment.
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…
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