On Sunday evening, major coins traded higher as the global market cap rose by 1.4% to $859.2 billion at 7: 18 p.m. EST.
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Why it matters:Bitcoin andEthereum were up even as U.S stock futures opened largely flat as the weekend drew to a close. S&P futures were unchanged, while Nasdaq futures were down 0.2% at the time of writing.
The investors will look forward to the November ISM services data, which is expected to be released Monday morning EST.
The investor sentiment was largely unchanged going into the new trading week. Me's Crypto Fear Greed Index flashed Fear at the time of writing, while the Index was at Fear last week.
Micha l van de Poppe noted that some altcoins are on the move up. The trader pointed out to Fantom FTM Avalanche AVAX and Polkadot DOT as examples of coins that are starting to look good. FTM has gone up 28.2%, AVAX has gone up 7.3% and DOT is up 6.2% over a seven day period.
Some altcoins are showing strength slowly but surely, and especially DeFi or De Fi is waking up, said Van De Poppe in a separate tweet.
Since this cycle monetary policy has become relevant forBitcoin, according to analyst Jan W stenfeld, apex coin side. Over the last few years, we have seen a lot of adoption ofBitcoin. Futures markets are being introduced, institutional interest rising, etc. It is not only driven by retail investing that Bitcoin has become more connected to the traditional financial markets. W stenfeld said that with the latest price moves multiple parties have declaredBitcoin dead again, but it is pertinent to ask if the federal funds rate will continue to rise indefinitely or ultimately, will it come down? The last Federal Open Market Committee FOMC meeting for the year is scheduled for next week. At the time of writing, CME's Fed Watch tool indicated a 78.2% probability for a 50 basis points rate hike.
Here's How The Oracle Of Omaha Got Exposure, Here's How Warren Buffett Now OwnsBitcoin.