Bitcoin slips under $80,000 as traders de-risk ahead of Fed meeting
Summary
Bitcoin fell nearly 2% to about $79,800, while most major cryptocurrencies also declined as investors reduced risk ahead of the Federal Reserve meeting and amid continued weakness in AI-related stocks. Ether lost nearly 3%, and XRP and SOL each fell about 2% to 3%. Traders are focused on Fed Chair Kevin Warsh’s comments for clues about a possible December rate hike, which could tighten liquidity and weigh on risk assets. Asian equities and technology shares also slid; Brent crude eased from a six-month high. Bitcoin would need to reclaim $82,500 to signal the decline may be pausing.
