Cryptocurrency prices rebounded from their worst levels over the weekend in early U.S. trading on Monday, while U.S. stock indexes also rebounded sharply.
About an hour into trading, the Nasdaq was down just 0.1%, after overnight futures plummeted more than 2%. The S&P 500 and Dow also posted very small losses.
Gold was still up 2% and crude oil was up 7%. The U.S. dollar index is having one of its strongest trading days in weeks, rising 1%.
Bitcoin It has risen to $68,600, up 2.3% in the past 24 hours. Ethereum (ETH) rose 1.4%, while solana (SOL) and XRP (XRP) rose by similar amounts.
Cryptocurrency-related stocks posted bigger gains, led by Circle (CRCL), which rose 12%. Strategy (MSTR) rose 6% and Galaxy Digital (GLXY) rose 4.7%.
On the macro front, the ISM Manufacturing PMI was 52.4, marking another month of expansion for the industry and the first consecutive expansion since the fourth quarter of 2022. Friday’s Chicago Business Barometer rose to 57.7 for February 2026 from 54 previously, well above expectations of 52.8. The data marked only the second expansion since November 2023 and reflected the strongest pace of growth in U.S. economic activity since May 2022.
Against a backdrop of conflict in the Middle East, a reacceleration of manufacturing activity, last week’s hotter-than-expected PPI data and rising oil prices driven by geopolitical tensions, a March rate cut appears virtually impossible ahead of the Federal Reserve’s March 18 meeting.