Ethereum leads the gains in the cryptocurrency market, maintaining a level of $3,650, which we have not seen for more than a month.

Neither the meme mania in equities, the overall positivity in stock indices, nor the weakening dollar seems to be helping cryptocurrencies right now.

Crypto market cap on Monday stands at $2.2 trillion, down 5.2% over seven days, although it showed some growth over the weekend. Local market capitalisation peaked on March 14th, but the active decline began about a month ago, with a sequence of lower lows and lower highs.

Cryptocurrencies continue to recover from recent lows, helped by a renewed sense the Federal Reserve will cut interest rates in 2024.