Bitcoin (BTC) starts a new week digesting major macroeconomic news as the United States sees the second-largest bank failure in its history.

After a sideways weekend, BTC/USD was already volatile into the new weekly and monthly candle as the downside kicked in.

After steadying below $29,000, BTC price action is already facing more potential pressure, with First Republic Bank being placed in public receivership and taken over by JPMorgan Chase.

The move, announced during Asia trading but before the Wall Street open, precedes an already heavy week in which the Federal Reserve will reveal its next interest rate shift.

With much to take in, the potential for continued surprises in crypto markets is clearly evident.