(Bloomberg) -- Bitcoin and the wider crypto market retreated on Monday, with some speculators on edge ahead of a Federal Reserve meeting this week that may point to higher-for-longer interest rates.

• The largest digital asset dropped to a one-week low at one point on Monday before paring some of the decline to trade roughly 2.1% lower at $62,298 as of 7:34 a.m. in New York.
• Smaller tokens such as Ether, BNB and XRP also nursed losses.
• The Depository Trust Company — which provides settlement and clearing services in the US — on Friday said crypto-linked ETFs won’t get collateral value for line-of-credit facilities, stoking questions about any potential implications for digital-asset markets.
• Demand for about a dozen US spot-Bitcoin ETFs also continues to moderate.
• Bitcoin’s 2024 advance has moderated to about 47% from more than 70% in mid-March, when the token hit a record of almost $74,000.

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