The cryptocurrency market started the week off with a whimper as the lasting effects of last week’s enforcement actions by the U.S. Securities and Exchange Commission combined with a busy week of economic data and interest rate announcements kept trading activity subdued.Stocks, on the other hand, rallied higher on Monday, continuing the trend from last week which saw the S&P enter into bull market territory, closing the week at its highest level since August, while the Nasdaq recorded its seventh consecutive positive weekly close. At the closing bell on Monday, the S&P, Dow and Nasdaq were all in the green, up 0.93%, 0.56%, and 1.53%, respectively.Data provided by TradingView shows that Bitcoin traded between a high of $26,275 and a low of $25,760 on the day and is holding near support at $26,000 at the time of writing. July Bitcoin futures prices traded lower in early U.S. trading hours Monday,” according to Kitco senior technical analyst Jim Wyckoff. “The bears do have the slight overall near-term technical advantage as a gentle price downtrend is in place on the daily bar chart,” Wyckoff said. “The path of least resistance for prices is presently sideways to lower.”MN Trading founder Michaël van de Poppe referred to the ongoing sideways price action as “a waiting game” for Bitcoin and suggested there could be another sweep of the lows for the top crypto before a possible resumption of the uptrend. Market analyst Rekt Capital noted that the downtrend has been in place since Bitcoin s mid-April high and could lead to a new “lower high” over the next couple of weeks if nothing changes.Seeing a similar trend, Poppe noted in a follow-up tweet, “Ultimately, we ll see [in the] coming few days whether that s going to sustain or whether we ll continue this downwards slope.”Altcoins sink deeper into the redThe focus of the SEC on identifying certain tokens as securities continued to weigh heavily on the altcoin market on Monday, with the majority of tokens seeing red as investors took a hands-off approach.Notable exceptions to the broad downturn include Stella (ALPHA) and Sui (SUI), which recorded gains of 7.45% and 6.26% in trading on Monday.The overall cryptocurrency market cap now stands at $1.05 trillion, and Bitcoin’s dominance rate is 47.7%