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Bitcoin (BTC) fell on Monday, extending its weekly decline as investors remained cautious ahead of the U.S. Federal Reserve’s interest rate decision later this week.
- Bitcoin Price: Down 1.6% to $83,191.20 by 01:57 ET (05:57 GMT)
- Weekly Performance: Over 1% loss
Crypto Markets on Edge Amid Fed Decision and Tariff Concerns
- The Federal Reserve’s policy meeting (March 18-19) is expected to keep interest rates steady, but investors are closely watching for any commentary on economic conditions and inflation.
- Market participants are also analyzing President Donald Trump’s tariff policies, which could impact inflation outlooks and future monetary policy.
- In December 2024, Bitcoin surged past $108,000 following Trump’s election victory, fueled by expectations of crypto-friendly regulations.
- However, the Fed’s hawkish stance and ongoing trade tensions have since dampened enthusiasm in the crypto market.
21Shares to Liquidate Two Crypto ETFs
- Crypto asset manager 21Shares announced the closure of two ETFs amid the market downturn:
- ARK 21Shares Active Bitcoin Ethereum Strategy ETF (NYSE: ARKY)
- ARK 21Shares Active On-Chain Bitcoin Strategy ETF (NYSE: ARKC)
- Trading will stop on March 27, and shareholders will receive cash distributions after liquidation.
- Despite the closures, 21Shares and ARK Investment Management reaffirmed their commitment to expanding regulated crypto products in the U.S. market.
Broader Crypto Market Performance
- Ethereum (ETH): Down 1.8% to $1,897.36
- XRP: Dropped 2.4% to $2.3343
- Solana (SOL): Fell 5.1%
- Cardano (ADA): Lost 4.4%
- Polygon (MATIC): Slipped 2.1%
- Dogecoin (DOGE): Down 2.4%
- Trump-themed token ($TRUMP): Dropped 5.8%
With uncertainty surrounding monetary policy, tariffs, and economic growth, crypto traders are treading cautiously ahead of the Fed’s next move.
