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 dive into the details.

Bitcoin, Ethereum, XRP, Dogecoin: A Sideways Dance

Cryptocurrency markets traded sideways on Monday, with traders keeping a close eye on the ongoing tariff uncertainty. Despite the lack of clear direction, one trader advised against going long on one of these cryptocurrencies.

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OM Token’s Dramatic Crash

The OM token of Layer-1 blockchain MANTRA crashed by nearly 90% on Sunday, erasing a whopping $4.6 billion from the coin’s market capitalization. The sudden plunge left investors reeling, with the CEO promising to fix the situation.

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See Also: Ethereum’s 2024 Gains Erased In Q1 2025 as Solana Reigns Supreme in DEX Space: Report

Michael Saylor’s Bitcoin Tease

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

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Trump’s Attack on Fed Chair Powell

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

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Cathie Wood’s Crypto Shuffle

Cathie Wood-led Ark Invest made significant trades, notably 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.

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This story was generated using Benzinga Neuro and edited by Ananya Gairola