Here’s why altcoins like Pepe, Solana, Jasmy, and Bonk are rising

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Altcoin prices bounced back as some investors bought the dip following the recent crypto Black Monday, when most of them crashed.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Popular tokens like Pepe, Solana, JasmyCoin, and Bonk rose by double digits from their lowest levels on Monday. There are three main reasons why these altcoins rose. First, there is hope that the US will move to negotiate with other countries. While tensions with China have risen, Trump has hinted of progress in trade negotiations with Israel, Japan, and Vietnam.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Second, these altcoins have jumped as Wall Street analysts raised their estimates on when the Federal Reserve will cut interest rates. In the last meeting, officials guided for two interest rate cuts this year, and in a statement on Friday, Jerome Powell said that he would not be in a hurry to move. Third, the rebound could be part of a dead cat bounce, a brief recovery in a declining market that quickly resumes its downward trend. This price action is also known as a bull trap.