Cryptocurrency prices are rebounding from their worst weekend levels in early U.S. trading Monday, alongside a sizable rebound in U.S. stock indexes.
About an hour into the session, the Nasdaq was down just 0.1% after futures at one point indicated a fall of more than 2%. The S&P 500 and DJIA also show only very modest losses.
Gold remains up 2% and crude oil 7%. The US dollar index is having one of its strongest sessions in weeks, gaining 1%.
Bitcoin rose to $68,600, up 2.3% in the past 24 hours. Ether (ETH) is 1.4% higher, with Solana (SOL) and XRP (XRP) up by similar amounts.
Crypto-related stocks post even bigger gains, led by Circle (CRCL)’s 12% advance. Strategy (MSTR) is 6% higher and Galaxy Digital (GLXY) is 4.7% higher.
On the macro side, the ISM Manufacturing PMI came in at 52.4 for February, marking another month of sector expansion and the first consecutive run of prints above 50 since the fourth quarter of 2022. This follows Friday’s Chicago Business Barometer, which rose to 57.7 in February 2026 from 54 previously and well above expectations of 52.8. This figure marks only the second expansion since November 2023 and reflects the strongest pace of growth in US activity since May 2022.
Amid conflict in the Middle East, a reacceleration of manufacturing activity, higher-than-expected PPI data last week, and higher oil prices driven by geopolitical tensions, a March rate cut now appears out of the question ahead of the March 18 Federal Reserve meeting.
Normally, this could be seen as a headwind for crypto prices, but it is quite possible that markets have already priced in tighter US monetary policy than expected.
