Bitcoin dips below $79,000, XRP leads losses as traders increase bets on a Fed rate hike
Bitcoin fell almost 1% to just under $79,000 in Asian morning hours Thursday, after briefly trading above $80,000 for the first time since May. XRP saw the largest decline among major tokens, dropping almost 3% to just over $1.41, though it still holds a 28% weekly gain. Solana bucked the trend, rising almost 4% to just over $101. The market movements come as shorter-dated Treasuries fell overnight, indicating increased trader expectations for a Federal Reserve rate increase, which contrasts with the lower-yield environment that previously supported Bitcoin's rally from below $68,000 last week. Federal Reserve Chair Kevin Warsh is scheduled to deliver his first Jackson Hole keynote as chair on Friday, three weeks before the September 15-16 rate decision.
Source:CoinDesk · Source Link
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