Bitcoin Slips Below $80,000 as Tech Weakness and Fed Stance Weigh
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Bitcoin dropped under $80,000 amid Samsung-led technology weakness and a hawkish Federal Reserve hold, with crypto futures liquidations reaching $356 million.
Bitcoin traded below $80,000 as investors pulled back from risk assets amid pressure on technology stocks and a hawkish Federal Reserve policy stance.
Weakness led by Samsung added to the uneasy backdrop for crypto. The Fed's decision to leave rates unchanged, coupled with its hawkish stance, also weighed on sentiment.
Crypto futures recorded $356 million in liquidations during the broader retreat, according to CoinDesk.
Source: CoinDesk
