Cryptocurrencies declined more than 2 percent in the past 24 hours as markets wait for the likely outcome of the Federal Open Markets Committee, due on Wednesday.
The Fed is widely expected to slow down on its rate hikes. But anxiety lingers on the likely policy commentary and forward guidance, given the resilience of the economy as evidenced by the strong fourth-quarter GDP numbers. The decline in Consumer Price Inflation as well as the Fed-preferred PCE inflation is however seen providing the Fed with headroom to slow down on its rate hikes.
Overall crypto market capitalization is currently at $1.05 trillion. The 24-hour trading volume aggregates to $55 billion.
Bitcoin's dominance is at 42.5 percent, while Ethereum's share is 18.5 percent. Stablecoins dominate 13.2 percent of the crypto market, whereas the residual altcoins account for 25.8 percent of the overall crypto market.
Market leader Bitcoin is currently trading at $23,184.74, having lost 1.3 percent overnight. BTC is holding on to gains of 1.8 percent in the past week and 39 percent on a year-to-date basis.
Ethereum has also shed 1.4 percent overnight and is currently changing hands at $1,586.99. Ether has lost 2.1 percent in the week but is holding on to gains of 31 percent on a year-to date basis.
91st ranked dYdX (DYDX) is the top gainer with a more than 15-percent overnight rally. 66th ranked Mina (MINA) added more than 13 percent overnight. 68th ranked Dash (DASH), 84th ranked Loopring (LRC) and 81st ranked GateToken (GT) are the other cryptocurrencies among the top 100 that have overcome the bearish sentiment to trade on a positive note.
65th ranked Trust Wallet Token (TWT) declined more than 11 percent overnight. 59th ranked Frax Share (FXS) and 58th ranked The Graph (GRT) have shed more than 7 percent overnight.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.