Crypto prices mixed as investors weigh US monetary policy outlook

Cryptocurrencies traded mixed on Monday as investors awaited US labor market data due this week to gauge prospects for monetary easing at the Federal Reserve’s upcoming meeting.

Bitcoin rose 0.55% to $109,611.14 as of 12:54 p.m. Mecca time, accounting for about 57.5% of the total cryptocurrency market value.

Ethereum, the second-largest token by market capitalization, slipped 0.45% to $4,449.93, while XRP was steady at $2.8095.

The global cryptocurrency market capitalization stood at $3.8 trillion, with total trading volume over the past 24 hours at $145.66 billion, according to CoinMarketCap.

El Salvador’s Bitcoin Office said the country acquired an additional 31 bitcoins over the past 30 days, bringing its total holdings to 6,286.18, valued at $689 million.

According to the FedWatch tool, expectations for a 25-basis-point rate cut at the Fed’s Sept. 16–17 meeting rose to 89.7%, up from 80.3% a month earlier.