Investing.com-- Bitcoin fell on Tuesday after slight gains in the previous session, continuing its tepid performance, as traders were cautious ahead of the U.S. Federal Reserve policy meeting set to begin later in the day.

The world’s largest cryptocurrency fell 1% to $82,415.50 by 02:32 ET (06:32 GMT)

Fed rate decision looms, investors seek clarity around tariff uncertainties

Bitcoin saw marginal moves this month, and the token has fallen 2% so far this month, as traders await clear signals for risk-on sentiment. In contrast, gold prices hit another record high on Tuesday on the back of its safe-haven appeal.

Crypto investors were cautious ahead of the Federal Reserve’s policy meeting scheduled for March 18-19, where interest rates are expected to remain steady at the end of the meeting.

Market participants will closely gauge the Fed’s commentary on President Donald Trump’s recent tariff policies and the potential implications for inflation and economic growth.

The Fed is expected to maintain its hawkish outlook amid economic uncertainties.

Higher borrowing costs and a risk-averse environment drive investors away from speculative assets like Bitcoin, leading to lower demand. Additionally, expectations of reduced inflation under a hawkish Fed diminish Bitcoin’s appeal as a hedge, further weighing on its price.

Canary Capital seeks approval for Sui-based ETF

Digital assets investment firm Canary Capital Group has filed for regulatory approval to launch an exchange-traded fund (ETF) linked to the spot price of Sui, a cryptocurrency associated with the Sui Network.

This filing marks the firm’s sixth cryptocurrency ETF application with the U.S. Securities and Exchange Commission (SEC), reflecting increased optimism for regulatory approval under the current administration.

“The proposed ETF would offer institutional and retail investors direct exposure to SUI, the native token of the Sui network, via a familiar product structure,” Sui Foundation said in a statement.

The SEC’s decision on these applications is pending, with final approvals potentially awaiting the confirmation of the new SEC chair.

Crypto price today: most altcoins fall tracking Bitcoin

Most altcoins were also lower on Tuesday, extending declines.

World no.2 crypto Ethereum was largely unchanged at $1,895.36.

World no. 3 crypto XRP declined 3.3% to $2.2528.

Solana dropped 3.4%, while Cardano lost 1.7% and Polygon slipped 2.8%.

Among meme tokens, Dogecoin was trading 3.1% lower, while $TRUMP fell 3.5%.