Bitcoin falls below $79,000 as possible Fed hike cools rally
Business
Bitcoin slipped back under $79,000 today after briefly topping $80,000 for the first time since May.
The dip comes as talk of a possible Fed rate hike and rising Treasury yields cools off last week's rally.
Bitcoin's weekly gain has shrunk to 14%, and other big names like XRP are also feeling the pressure, while ether added 1% to just under $2,494.
Market liquidity tight despite ETF inflows
XRP dropped nearly 3%, but is still up 28% for the week.
ether added 1% to just under $2,494; BNB barely moved, while Solana stood out with almost 4% jump.
QCP Capital says spot ETF inflows are bringing real demand, but overall market liquidity is tight, so don't be surprised if this bullish streak slows down soon.