Cryptocurrency prices fell on Monday as investors avoided risk amid uncertainty over the US Federal Reserve’s monetary policy outlook.

Bitcoin fell 1.98% to $58,509.96 at 09:04 AM Mecca time, while Ethereum fell 1.53% to $2,625.63 and Ripple fell 1.16% to 56.70 cents.

This coincided with investors’ anticipation of a speech by Federal Reserve Chairman Jerome Powell next Friday on the US economic outlook during the Jackson Hole Economic Policy Symposium.