Bitcoin and Ethereum recover morning declines, trading near levels seen post-Fed meeting despite expectations of tighter policy.
Bitcoin and Ethereum erased early losses Monday, climbing to $65,218.60 and $1,775.80 respectively by 9:37 a.m. ET. Both cryptocurrencies opened lower than Sunday’s levels but reversed course despite a hawkish Fed outlook signaling potential rate increases later this year.
Bitcoin opened at $63,242.26, down 1.6% from Sunday, while Ethereum started at $1,704.90, a 2% decline. Over the past week, Bitcoin fell 3.8%, while Ethereum dropped 1.1%. Year-over-year, Bitcoin is down 38.1%, and Ethereum has declined 25.8%.
Prices remain close to levels observed after the Fed’s two-day meeting last week, suggesting resilience amid macroeconomic pressures. Bitcoin’s all-time high stands at $126,198.07, while Ethereum’s peak is $4,953.73.