Cryptocurrency markets got a shot of energy Sunday evening, with major digital assets posting solid gains even as stock futures took a dive. The catalyst for the traditional market's anxiety? The Justice Department serving subpoenas to the Federal Reserve in what's shaping up to be an escalating clash over monetary policy independence.

Sunday Night Crypto Rally

Bitcoin (BTC) pushed past $91,500 during evening trading, finishing the session up 0.97% at $91,445.21. More interesting than the price move was the volume behind it—trading activity jumped nearly 75% over the previous 24-hour period, suggesting genuine interest rather than thin-market noise.

Ethereum (ETH) had an even stronger showing, climbing 1.21% to reach nearly $3,150 with an 84% surge in trading volume. Both assets are off to a decent start in 2026, with Bitcoin up 4.42% and Ethereum gaining over 5.60% for the year.

Elsewhere in the crypto universe, Solana (SOL) led the pack with a 3.88% gain to $141.41, while Dogecoin (DOGE) added a modest 0.35% to reach $0.1395. The outlier was XRP, which slipped 0.88% to $2.07.

The market saw significant liquidations, with over $140 million in positions wiped out in the last 24 hours according to Coinglass. Interestingly, the pain was distributed fairly evenly between longs and shorts, suggesting choppy trading rather than a clear directional move catching everyone off guard.

Bitcoin's open interest increased 0.69% over the period, and nearly 70% of Binance traders holding open BTC positions remain long on the cryptocurrency. The Crypto Fear and Greed Index continued to register fear sentiment across the market.

Among smaller cryptos, Story (IP) led the gainers with a 24% jump to $2.47, followed by DeepBook Protocol (DEEP) up 22.86% at $17.47 and BUILDon (B) rising 22.52% to $0.2758. The global cryptocurrency market capitalization stood at $3.1 trillion, up a modest 0.45% over 24 hours.

Stock Futures Tumble on Fed Drama

While crypto was partying, traditional markets were nursing a hangover before trading even opened. Stock futures plunged Sunday night after Fed Chair Jerome Powell revealed that the Justice Department had served subpoenas to the Federal Reserve, threatening criminal indictment over his testimony before the Senate Banking Committee last June.

Dow Jones Industrial Average futures dropped 186 points, or 0.37%, as of 8:40 p.m. EDT. Futures tied to the S&P 500 fell 0.47%, while Nasdaq 100 futures lost 0.72%.

Powell characterized the legal action as retaliation for not following the "preference of the President" on interest rates—a stark statement that underscores growing tensions between the executive branch and the supposedly independent central bank.

What the Analysts Are Saying

Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, noted that Ethereum is holding above a "crucial" resistance zone around $3,000-$3,100. "That means that the likelihood towards new monthly highs has significantly increased. Great stuff," he predicted.

Not everyone shares that optimism about crypto's near-term prospects. EliZ, another popular cryptocurrency commentator, said Bitcoin remains "structurally weak" with no "credible" signs of a bottom forming. "Any rebound at this stage is merely a technical reaction until the structure changes," EliZ added.

It's a classic divergence in market opinion—one camp seeing breakout potential, the other warning of false rallies. With stock markets facing political turbulence and crypto showing tentative strength, the next few sessions should clarify which narrative holds up.