Oil prices and concerns about rising interest rates have suppressed demand for cryptocurrencies, with Bitcoin hovering near $80,200

Bitcoin was steady on Monday after falling sharply over the weekend. Concerns about the continued rise in oil prices and expectations for upcoming meetings of major central banks have significantly cooled the market's enthusiasm for cryptocurrency investment.
As of 1:52 a.m. Eastern Time (13:52 Beijing time), Bitcoin, the world's largest cryptocurrency by market value, fell 0.4% to $80,227.7.
Over the weekend, Bitcoin fell by around $2,000. Global technology stocks continue to fall, and market sentiment has not improved significantly. In addition, investors are preparing for the hawkish signals that major central banks around the world may release this week, and Bitcoin is under obvious pressure.
Bitcoin's losses also spread across the cryptocurrency market, with most altcoins also recording losses on Monday.