Bitcoin traded near its lowest level in a month on Monday, extending last week’s sharp losses. The world’s largest cryptocurrency fell 0.2% to $80,185.6, bringing its weekly decline to over 6%. This sustained sell-off reflects a broader risk-off move across financial markets.

The downturn is fueled by two key pressures. Investors are cautious ahead of the Federal Reserve’s policy meeting this week, seeking clarity on future interest rate cuts. Additionally, forced liquidations in leveraged crypto markets added downward momentum, with over $1 billion in positions unwound last week.

Attention now turns to Chair Jerome Powell’s post-meeting remarks for clues on monetary policy. The market is also watching for President Trump’s nominee for the next Fed chair, a pick that could influence future policy direction. Altcoins like Ethereum and Solana also declined, mirroring Bitcoin’s weakness.