Global markets retreated from risky assets like cryptocurrencies as central banks announce their rate decisions and as the dollar rallied ahead of an active week. The Federal Reserve is expected to hike its Fed Funds rate by 75 basis points on Wednesday, making it the third consecutive hike, and other banks are expected to follow suit with it. Due to risk-averse markets, fiat currencies have outpaced crypto gains. The price of bitcoin dropped over 5% on the day to $18,407.20, which brings its year-to-date decline to 61.4%.