Bitcoin slips under $80,000 as traders de-risk ahead of Fed meeting
Ether and XRP led losses among the majors as the AI trade took another hit in Asia, where Goldman Sachs cut its Kospi target by 25%.
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Summary
- Bitcoin fell nearly 2% to about $79,800 as traders reduced risk before the Federal Reserve’s Wednesday meeting, while Ether, XRP and other major tokens also declined.
- Investors are watching for signals of a possible December rate increase, which could tighten liquidity and further pressure cryptocurrencies and stocks.
- A continuing sell-off in Asian technology shares weighed on sentiment, while Bitcoin must reclaim $82,500 to restore confidence among buyers.
