Bitcoin price today down at $83.2k.
Bitcoin fell on Monday after a weekly loss, as traders were cautious ahead of the U.S. Federal Reserve interest rate decision due later this week.
The world’s largest cryptocurrency fell 1.6% to $83,191.20 by 01:57 ET (05:57 GMT). The token lost more than 1% last week.
Crypto markets await Fed decision amid tariff concerns
Crypto investors were adopting a cautious stance ahead of the Federal Reserve’s policy meeting scheduled for March 18-19, where interest rates are expected to remain steady.
Market participants are particularly eyeing the Fed’s commentary on President Donald Trump’s recent tariff policies and the potential implications for inflation and economic growth.
In December 2024, Bitcoin prices surged past $108,000 following Trump’s election victory, propelled by expectations of crypto-friendly regulatory appointments and the establishment of a national Bitcoin reserve.
The upcoming Fed meeting is anticipated to provide insights into how ongoing trade disputes and tariff measures may influence monetary policy and broader economic conditions.
Oil prices rise.
Oil prices traded higher on Monday after the United States vowed to keep attacking Yemen’s Houthis until the Iran-aligned group ends its assaults on shipping.
Brent futures rose 48 cents, or 0.7%, to $71.06 a barrel by 0654 GMT, while U.S. West Texas Intermediate crude futures rose 47 cents, also 0.7%, to $67.65 a barrel.
The U.S. airstrikes, which the Houthi-run health ministry said killed at least 53 people, are the biggest U.S. military operation in the Middle East since President Donald Trump took office in January.
Houthi attacks on shipping in the Red Sea have disrupted global commerce and set off a costly campaign by the U.S. military to intercept missiles and drones. Oil prices rose slightly last week, snapping a three-week losing streak fed by concern over a global economic slowdown driven by escalating trade tension between the U.S. and other nations.
Asian and European shares shine.
Oil prices struck a two-week high on Monday, U.S. stock futures slid while those in Asia charged higher as investors weighed up the contrasting fortunes between the United States and the rest of the world.
The week is a busy one with a series of central bank policy meetings, including by the U.S. Federal Reserve. It is widely expected to keep rates on hold when its meeting concludes on Wednesday.
Over the weekend the U.S. defence secretary said the country would continue attacking Yemen’s Houthis until they ended attacks on shipping, sending oil prices sharply higher in early Asia trade on Monday as investors worried about disruptions to supply.
Brent futures and U.S. crude futures surged more than 1% in morning trade, before paring some of those gains on the prospect of an imminent end to the Ukraine war, which could bring more Russian energy supplies back to Western markets.
U.S. President Donald Trump said he plans to speak to Russian President Vladimir Putin on Tuesday and discuss ending the war in Ukraine, after positive talks between U.S. and Russian officials in Moscow.
European stocks and its currency have in recent times drawn support from Germany’s fiscal reset plan spanning a 500 billion euro ($540 billion) fund for infrastructure and changes to borrowing rules.
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