US Stocks Close Higher, Cryptocurrency Sector Sees Broad Gains

U.S. stocks closed higher on Monday, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all setting closing records. Despite concerns over the Federal Reserve's independence, market participants largely brushed aside recent developments involving a criminal investigation into Fed Chair Jerome Powell.

Gold prices surged to a new all-time high as investors sought safe-haven assets amid political tensions. The move followed President Donald Trump's call for a one-year cap on credit card interest rates, which also caused financial stocks to decline.

The cryptocurrency sector experienced broad gains, with major players like Coinbase and MicroStrategy rising significantly. BitMine and SharpLink also saw gains of 3.56% and 2.40%, respectively.

Why the Move Happened

The Federal Reserve found itself under scrutiny after the Justice Department opened a criminal investigation into Chair Jerome Powell. In a statement, Powell described the subpoenas as a political move by the Trump administration to pressure the central bank into lowering interest rates.

Financial stocks, particularly those of credit card issuers, suffered as a result of President Trump's proposed cap on interest rates. Companies like Capital One, Citigroup, and JPMorgan Chase all saw their shares fall sharply.

How Markets Responded

Despite the turbulence, U.S. stocks closed with gains. The Dow rose 0.17%, the S&P 500 added 0.16%, and the Nasdaq climbed 0.26%. These figures marked new closing records for the major indices.

Safe-haven assets like gold and silver also benefited. Gold prices crossed $4,600 an ounce for the first time, as investors turned to traditional havens amid rising political and economic uncertainties according to market analysis.

The cryptocurrency sector stood out as a bright spot. Coinbase gained 0.91%, while MicroStrategy and BitMine posted gains of 3.11% and 3.56%, respectively.

What Analysts Are Watching

Analysts are closely monitoring the upcoming U.S. Consumer Price Index (CPI) report, which is scheduled for Tuesday. The report will provide more insight into the state of inflation and whether the Federal Reserve is likely to make additional rate cuts.

Investor attention is also focused on the earnings season, with big banks like JPMorgan Chase kicking off the reporting period. Earnings will offer an early look into the state of consumer borrowing and the potential for rising credit risk.

BitMine continues to expand its Ethereum holdings, now at 4.168 million tokens. The company is also preparing to launch its staking solution, MAVAN, in Q1 2026. Analysts are watching to see how these moves will affect the company's long-term value and its position in the crypto market.