Bitcoin fell nearly 2% to about $79,800 as of Monday Asian morning hours as traders cut risk ahead of this week’s Federal Reserve meeting and another leg down in the AI trade weighed on tech stocks across the region.
Selling hit almost every major token. Ether dropped nearly 3% to just above $2,300, and XRP lost about 3% to $1.28. SOL slid 2% and is barely holding $100. DOGE, ZEC, HYPE and BNB each fell 1% to 2%, while TRX was the only major in the green, up less than 1%, according to CoinDesk data.
“This week, all eyes are on the Fed meeting and it already seems like investors are de-risking as Bitcoin falls below the $80k mark. While the Fed probably won’t change rates this week, we’re watching how strongly the chair hints at a December hike — that’s what matters for crypto,” Jeff Mei, chief operating officer at crypto exchange BTSE, said in an email to CoinDesk.
“Given record high oil prices, the escalating US-Iran…
