While Ethereum was trading slightly lower but kept above $1,850-level, Bitcoin continued to trade under pressure as it declined by around a half-percent and remained below the $30,000 barrier. The beginning of the new week on Monday in Asia saw a decline in Bitcoin and other crypto tokens. The FOMC decision on interest-rate policy is due on Wednesday, which will keep the traders on edge and make this week busy. The markets may have already factored in the most recent rate increases.

The biggest cryptocurrency token fell by roughly 0.5 percent and stayed below the $30,000 threshold, adding to the pressure on Bitcoin. Ethereum, its biggest rival, was trading marginally lower but remained above the $1,850 mark. Early in the day, the price of the active altcoins was declining. At around $29,780 right now, the price of one bitcoin is still below the $30,000 threshold. Over the weekend, the cost could not be more than $30,000.

The US SEC chair’s unhappiness by the case’s loss and rising selling pressure may be to blame for the recent price decrease. Given that the FOMC’s decision on interest-rate policy is due on Wednesday, there may not be much volatility this week. Ethereum nearly reached $1,900 before slipping back and trading at about $1,875.

All of the biggest cryptocurrency tokens were trading down on Monday, with the exception of Bitcoin Cash, which increased by more than 2%. Tron and Polkadot both lost about 2%, while Toncoin fell by more than 2%. Solana, XRP, Polygon, and Cardano all experienced a 1% decline.

The market capitalization of all cryptocurrencies was trading lower, dropping to the $1.19 trillion mark after declining roughly 0.5 percent during the previous day. The total trading volume did, however, increase by more than 8% to $24.29 billion.