Bitcoin and other cryptocurrencies declined on Monday as investors began a week dominated by economic news and corporate earnings that could lead to new digital asset volatility.

Cryptocurrencies have risen from the depths of the market crash over the past month, but remain vulnerable. Bitcoin recently capped off its worst quarter in over 10 years and is trading at about a third of its value from its November 2021 all-time highs. The market capitalization of the entire crypto space has deteriorated to $1 trillion from $3 trillion in less than nine months.

Bitcoin and its peers should theoretically trade independently of the major markets, but have shown to be highly correlated with stocks, especially tech stocks; thus, cryptocurrencies have followed the S&P 500 and Nasdaq in a bear market this year.

The market will be dominated this week by the Federal Reserve’s Wednesday interest rate decision.

Facing the highest inflation in decades, the Fed has already taken aggressive steps to tame hot prices with tighter monetary policy and is expected to raise rates another extra 75 basis points this week. Investors are worried about higher rates, which risk reducing economic demand to the point of triggering a recession.