Bitcoin slips below $80,000 today despite Asian tech gains
Bitcoin dropped below $80,000 today, landing at about $79,700, a 0.4% dip since midnight.
This happened even though Asian tech stocks were up, with South Korea's Kospi jumping 3.1%.
Other major cryptos felt the chill too: Ether slipped by 0.5%, and the DeFi index took the biggest hit, down 1.8%.
It is a sign that crypto traders are playing it safe right now.
Derivatives jump amid Fed meeting
With the US Federal Reserve starting a big interest-rate meeting (and most people betting rates will not change), crypto traders got busy: derivatives trading jumped 18% to $152 billion in just one day.
Meanwhile, spot Bitcoin ETFs bounced back with $110 million in new inflows after some recent outflows.
For context: Bitcoin still makes up over half of all crypto market value at $1.55 trillion, while crypto futures volume hit $152 billion in the last 24 hours.