Memecoins Rally while Traders Wait for Two Big Events

Bitcoin (BTC) hovered just above the $87,000 mark on Monday, as traders braced for two pivotal events: fresh U.S. inflation data and Trump's tariffs landing on April 2.

According to CoinDesk, this price zone appeared shaky, with a ‘double top’ pattern suggesting a potential slide toward $75,000. If Bitcoin couldn't maintain above $84,000 by Sunday, that bearish setup could come into play.

Elsewhere, memecoins Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) stole the spotlight. DOGE rose by 5.5%, and SHIB surged by 11%, fueled by risk appetite and a 228% spike in ShibaSwap activity.

Traders were piling into these ‘beta bets’ on Ethereum (CRYPTO: ETH) strength, while major players like Solana (SOL-USD) and XRP (XRP-USD) remained relatively flat.

The next twist arrives on March 28, when the U.S. PCE inflation data drops, which heavily influences Fed rate decisions.

"Crypto will remain a close proxy of equities," noted SignalPlus's Augustine Fan, adding that a softer tariff response from Trump could rally stocks and crypto. However, as QCP Capital mentioned, "options markets remain cautious," with traders waiting till June before getting overly bullish.