Major cryptocurrencies experienced moderate losses on Monday as the dollar index tracked Treasury yields higher, signaling the market's growing comfort with the Federal Reserve's liquidity tightening cycle. Bitcoin fell below $30,000, registering a 1.7% drop on a 24-hour basis, while Ethereum's native token Ether fell by nearly 1.8% to $2,084. The DeFi dominance index held steady at around 4.3%, according to data from TradingView. The dollar index rose to 101.80, and the yield on the 10-year note rose to its highest level in a month at 3.54%. The Fed is expected to raise rates by 25 basis points to the new range of 5% to 5.25%, which could inject volatility into risk assets, including cryptocurrencies. Tech billionaire Elon Musk also revealed that US government agencies have full access to Twitter user activity, including direct messaging.

(By Omkar Godbole)