Bitcoin BTC/USD, Ethereum ETH/USD, XRP XRP/USD, and Dogecoin DOGE/USD Moved Sideways Amid Tariff Uncertainties

The past week was a rollercoaster ride for the cryptocurrency market. Bitcoin BTC/USD, Ethereum ETH/USD, XRP XRP/USD, and Dogecoin DOGE/USD moved sideways

The past week was a rollercoaster ride for the cryptocurrency market. Bitcoin BTC/USD, Ethereum ETH/USD, XRP XRP/USD, and Dogecoin DOGE/USD moved sideways amid tariff uncertainties. The OM token of Layer-1 blockchain MANTRA saw a dramatic crash, wiping out billions of dollars. Meanwhile, Michael Saylor hinted at a resumption of Bitcoin buying, and President Trump lashed out at Fed Chair Jerome Powell. Cathie Wood also made significant crypto trades.

Let’s delve into the details.

Bitcoin, Ethereum, XRP, Dogecoin: A Sideways Dance

Cryptocurrency markets engaged in a sideways dance on Monday as traders remained attentive to the ongoing saga of tariffs. Despite the lack of clear direction, one trader advised against going long on any of these cryptos.

One trader expressed, “Still no direction in crypto. Don’t think we’ll see any green on Monday.”

Another trader chimed in, “Don’t go long on any of these.”

See More: Top Cryptocurrency News

OM Token’s Dramatic Crash

On Sunday, the OM token of Layer-1 blockchain MANTRA experienced a nearly 90% crash, erasing a staggering $4.6 billion from the coin’s market capitalization. The sudden plunge had investors reeling, with the CEO promising to fix the situation.

The OM token plummeted from $4.84 at 09:30 AM ET to $0.5367 by 11:45 AM ET.

Mannatoun Block, CEO of MANTRA, took to X, formerly Twitter, to address the token’s dramatic fall. In response to an inquiry regarding the token’s price drop, Block stated, “We are aware of the recent price movement of the OM token and are working diligently to rectify the situation.”

He further noted that the blockchain and dApps remain operational despite the token’s price decline.

Michael Saylor’s Bitcoin Tease

Michael Saylor, co-founder and executive chairman of Strategy Inc. MSTR, teased a resumption of Bitcoin (BTC/USD) buying after a week’s pause. His cryptic post, “No Tariffs on Orange Dots,” likely left many speculating about the company’s next move.

The post was a response to a user who inquired about the company’s Bitcoin purchases.

After seven consecutive weeks of buying Bitcoin, Strategy Inc. took a week off from its buying activity.

President Trump’s Attack on Fed Chair Powell

President Donald Trump unloaded on Federal Reserve Chair Jerome Powell for his reluctance to cut interest rates.

“The Federal Reserve has become a big factor in keeping our economy from reaching the new heights it's capable of scaling. They missed the mark in 2019. Interest rates should've come down sooner and steeper to counter the threat of rising inflation,” Trump wrote on Truth Social.

However, despite Trump’s tirade, market participants, as tracked by Polymarket, are overwhelmingly betting on no change in the Fed’s policy stance for its upcoming May 7 meeting.

Cathie Wood’s Crypto Shuffle

Cathie Wood-led Ark Invest made significant trades, acquiring shares in Robinhood Markets Inc. HOOD, ARK 21Shares Bitcoin ETF BTC, and 3iQ Solana Staking ETF.

The move signals a reshuffling of the firm’s crypto portfolio.