Bitcoin (BTC-USD) has fallen below the $19,000 marker during Monday's early market trading session as a risk-off tone washes over investors ahead of the Federal Reserve’s interest rate decision later this week.The crypto asset’s latest slide takes the digital toke down to a three-month trading low as it tests levels not seen since June 19th. Bitcoin, which is -7.1% on Monday now hovers near the $18,500 level. The June 18th low of $17,588 is the only level left that provides support for the cryptocurrency, a break below and Bitcoin will be looking at levels not seen since December of 2020.As Bitcoin tumbles, so in turn do Bitcoin Strategy exchange traded funds as together they move in a parallel fashion since their price action is tied directly off the futures contracts of the crypto asset itself.Three example ETFs are the ProShares Bitcoin Strategy ETF (NYSEARCA:BITO), Valkyrie Bitcoin Strategy ETF (BTF), and VanEck Bitcoin Strategy ETF (XBTF). Daily price action: BITO -5.1%, BTF -5.8%, and XBTF -5.7%.Aside from Bitcoin, other cryptocurrencies are also trading into negative territory. Such crypto assets include Ethereum (ETH-USD) -9.4%, Shiba Inu (SHIB-USD) -8.8%, Cardano (ADA-USD) -8.7%, Uniswap (UNI-USD) -10.6%, and Avalanche (AVAX-USD) -8.7%.In broader financial news, the stock market looks to open lower on Monday with investors already looking forward to the Fed decision.
SEC Hosts First-Ever Crypto Roundtable Today
