Cryptocurrency markets continued trending lower early this week, with market participants eyeing Wednesday's FOMC meeting and Federal Reserve Chair Jerome Powell's speech.

By Trader Joe

Cryptocurrency markets continued trending lower early this week, with market participants eyeing Wednesday’s FOMC meeting and Federal Reserve Chair Jerome Powell's speech.

Here's what happened in the past 24 hours and what to expect today.

Notable Statistics

* Total crypto market cap now stands at $1.22 trillion.

* Cryptocurrency volume over the past 24 hours is reported to be $64.37 billion.

* Among the top 100 cryptocurrencies, 53 have advanced, while 47 have declined.

Notable Developments

* According to Trader More Crypto Online, Bitcoin is completing its correction, and confirmation arrives with a decisive breakout above $95,240.

* Trader DevKhabib expects Bitcoin to face another rejection at recent resistance, setting it up for a sharp pullback toward $90,000 as markets brace for volatility following the FOMC decision.

* Crypto trader Scient notes that Bitcoin's price is pivoting around the $95,600 4-hour market structure shift (MSS) level.

* A recent fake breakout above that zone led to a quick drop and local trend reversal.

* He sees two possible paths: in a bearish scenario, BTC retests $95,600 as resistance and breaks lower.

* In a bullish scenario, a clean reclaim of $95,600 could open the door to retesting the $98,000 highs.

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