Bitcoin's price slipped below $90,000 on Monday, reflecting heightened tensions between the Trump administration and the Federal Reserve. The drop was catalyzed by Federal Reserve Chair Jerome Powell's revelation that the Fed is facing a potential criminal indictment. Powell attributed the investigation to political motivations, citing pressure from the Trump administration to sharply lower interest rates.

This news sparked a sell-off in U.S. stock futures and a rush into safe-haven assets like gold, as markets feared the potential erosion of the Fed’s independence. Geopolitical uncertainties also weighed on Bitcoin and broader crypto markets. President Trump's renewed demands for U.S. control over Greenland, coupled with ongoing conflicts in Iran, Ukraine, and between China and Japan, added to global risk aversion.

Despite these challenges, Ethereum remains a focal point for analysts. Standard Chartered sees 2026 as a potential turning point for Ethereum, predicting that its relative fundamentals are improving against Bitcoin. Analyst Geoff Kendrick highlighted ongoing accumulation by Bitmine Immersion Technologies and Ethereum's dominant position in stablecoins and decentralized finance as key supports.

Kendrick raised the longer-term price forecast for Ethereum, setting a target of $40,000 by 2030. Looking ahead, the crypto market will closely watch U.S. consumer price index inflation data, due on Tuesday, which could influence interest rate expectations. The broader crypto market, including major altcoins, mirrored Bitcoin's decline, with Ethereum and other top cryptocurrencies also experiencing losses.

The market is bracing for potential volatility as these economic and geopolitical factors continue to unfold.